Setanta Sent Off – ESPN comes off subs bench
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Sports broadcaster goes into administration, ESPN takes up Premier League matches.
TV sports broadcaster Setanta Sports announced yesterday that it had officially stopped trading in Great Britain. Over a million British subscribers had their service switched off last night as the company went into administration.
An announcement for Setanta Sports confirmed that their services would still be operating in the Republic of Ireland and Northern Ireland, the company appointed Deloitte as its administrators to wind down the company’s UK operations.
Over the last three years, Setanta Sports spent millions of pounds securing contracts to broadcast live sport including lucrative deals with the English Premier League football, Guinness Premiership rugby and US PGA golf tour.
The Premier League terminated its contract with Setanta on Friday after short falls of £35 million could not be paid. Setanta failed to meet a 5pm deadline to pay £10 million to the Premier League as part payment for the money owed. As Setanta took an early shower, concerns grew over which company might step in to cover the £392 million contract.
US broadcaster ESPN who are owned by Disney came to the rescue of the Premier League, securing the rights to 46 live Premier League rights for the 2009/10 season. A further £100 million shortfall is yet to be decided for England national team matches and the FA Cup.
Sir Robin Miller, Setanta’s chairman said the company’s collapse was a sad day for all: “Unfortunately, in a difficult and highly competitive market, and despite strenuous efforts by the board and management, it has not been possible to find sufficient additional funds in the time available to ensure its survival,” reported WalesOnline.
