South Sydney chairman Nick Pappas has urged Cronulla to follow the Russell Crowe-Peter Holmes a Court model as the cash-strapped Sharks seek private investment to stay afloat in the NRL.

Pappas says the 25 per cent stake that members have in the Rabbitohs, who were privatised in 2006, as well as their rights over the team's colours, logo, name and location, would be an ideal model for Cronulla to consider.

Souths are 75 per cent owned by Hollywood actor Crowe and businessman Holmes a Court.

"Private equity is never an easy decision and that's why we came up with a concept that blends private ownership with public ownership, in other words the members still have an interest," Pappas told AAP on Friday.

"We never wanted to go completely private and that's why members still have significant rights here.

"If (Cronulla) can come up with a model that blends both private investment and the members still having rights, I think that's the way to go.

"I think the way of the world, not the way of clubs in rugby league, but the way of the world is private ownership but it's a question in rugby league.

"Rugby league has a long tradition of members having rights so you can't totally exclude members because if you do so you do it at your own peril."

The Sharks are desperate to find a way out of their dire financial situation, with debts of reportedly $11 million.

On Thursday the NRL refused to financially support a proposal from Cronulla to play five home games for the next five years on the Central Coast.

Sharks boss Tony Zappia said he would be knocking on the doors of potential investors.

Premiers Manly have a similar ownership model to Souths, with Max Delmege and the Penn family each owning 40 per cent and the other 20 per cent in the hands of a supporters club.

Pappas was speaking as Souths announced the signing of former Test backrower Michael Crocker, using the occasion to talk up the Rabbitohs' achievements since the $3 million sell-off.

He said the club had the highest sponsorship revenue and membership in the NRL.

"That all goes back to the events of the 19th of March 2006 when our loyal members made the very brave decision to welcome private investment to our club ... and that decision has really underpinned everything we've done ever since," he said.

Meanwhile, the NRL has refused to comment on a resurfacing allegation of sexual misconduct against media personality and former player Matthew Johns.

Johns is the face of the league's membership drive, appearing in its television advertisement.

The NRL has already re-edited one TV ad this year to remove Manly's Brett Stewart, who has pleaded not guilty to a sexual assault charge.

NRL chief executive David Gallop said he was yet to view the Four Corners program which will air the comments of a woman who says she is psychologically scarred after having group sex with Cronulla players in 2002.

The players were cleared by police at the time.

In another development, Karen Willis of the Rape Crisis Centre, who counsels NRL players, said Johns should have apologised when he made his statement on the matter on Thursday night.

"We have a young woman who has been seriously injured and damaged by this," Willis told the Ten Network.

"She needs every ounce of an apology."

Melbourne coach Craig Bellamy, who has employed Johns as an assistant at the Storm, said on Friday: "I think he's paid his price personally and it should be left at that".

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