Oscar-winning actor Russell Crowe has ruled out making any bid to buy his beloved South Sydney NRL club, at least for the time being.

Speaking at the Australian premiere of his new film Cinderella Man, the diehard Bunnies fan said he did not believe the time was right to be investing in rugby league.

"Not at this point. Not right now," Crowe said when asked about reports he was involved in a bid to buy Souths with businessman Peter Holmes a Court.

"It was surprise to me that it was even up for sale. Souths may be priceless but they are certainly not worth $10 million."

Crowe said despite the huge success of the NRL this season with bumper crowds and the most even competition ever, he did not think the sport was a wise investment.

"On the surface ... from what I've seen, I think most rugby league fans don't really have a full idea or have been given the facts so they could make an objective assessment," he said.

"You pull that curtain back and take just a little bit of a peak and rugby league doesn't look like a good investment."

Crowe is a regular spectator at Souths games, considered a No.1 supporter at the club, and also sponsors the Rabbitohs.

But the 41-year-old said he didn't see himself as an administrator.

"My support of Souths has always been done quietly unless I go to the game and get photographed and all that kind of stuff," he said.

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