Page 1 of Setanta close to going under??

From the times, pardon the pun but worrying times for football in Scotland and England if they do go under :(


THE sports broadcaster Setanta is fighting for its life this weekend as a new management team holds urgent talks to raise cash and slash the amount it pays for sports rights.

Sir Robin Miller, the Emap publishing veteran, has been parachuted in as Setanta's chairman to lead it through an emergency refinancing.

The company, which has 1.2m customers and broadcasts Premier League and England international football, faces an uncertain future unless it can raise up to £100m this month from shareholders including private-equity firms Doughty Hanson and Balderton Capital.

Accountants from Deloitte have also been called in to work alongside long-time advisers at Close Brothers and could be appointed as administrators if negotiations fail.

Setanta is understood to have agreements in principle from sports bodies including the PGA golf tour that could let it cut up to £20m from the estimated £120m a year it will spends on rights from 2010.

The company was dealt a severe blow when it won the rights to screen only 23 Premier League fixtures per season from 2010. The rest will air on BSkyB, which is 39.1% owned by News Corporation, ultimate parent company of The Sunday Times.

The Irish company is racing to find funding for a payment of £35m to the Premier League due on May 15. Some rights partners, including IPL cricket and the Ultimate Fighting Championship, are said to be broadly supportive. However, they want evidence that Setanta has a future before agreeing to reducing the value of contracts, while shareholders want to see that the company is able to cut costs so it can remain a viable business before putting in more cash.

Only the Football Association, which splits FA Cup games and England's home internationals between Setanta and ITV, is understood to be digging in its heels.

Setanta is also trying to renegotiate contracts that have yet to start. At a meeting with Scottish Premier League clubs in Glasgow this Thursday the company will try to chop both the length and value of a four-year £125m deal due to begin in 2010.

Miller's last job was as chairman of the debt-laden Entertainment Rights - home to Basil Brush and Postman Pat - which was bought from administration by an American media firm. He is working with Gary McIlraith, a former Sky executive who became Setanta's acting chief executive last month.

Founded in 1990 by Leonard Ryan and Michael O'Rourke, Setanta began life beaming Irish football to expats in London. It grew steadily and burst onto the national scene when it broke Sky's stranglehold on Premier League games in 2006.

Disney, which bid unsuccessfully for some Premier League rights earlier this year, has long been linked to a bid for Setanta. The company tried to sell itself last year but called off the process because of limited interest.

Not bad news for Sky subscribers who are continually ripped off with extra subscriptions for their sport. First it was the season ticket and then it was Setanta, the sooner the footie comes back to Sky Sports the better.



It matters not what happens in life, ive met the Mighty Bruce and my life is complete.

Sky Sports were the one who charged the season ticket though?


Sky Sports also won the bid originally and would have continued the season ticket through "Premiership Plus" but was ruled by the EU that they couldn`t monopolise the broadcast of live football and therefore were not allowed to take the whole Premier League rights.

The smaller part was then expected to go to one of BBC, ITV and Channel 5, but Setanta made the surprise move for it and we were back to being charged for the extra games again.

I`d guess if Setanta do go tits up, then it`ll go back to terrestrial tv and after ITV digital and now Setanta "hopefully" no-one else will be going for a subscription based package.

www.last.fm/user/1mills

Not bad news for Sky subscribers who are continually ripped off with extra subscriptions for their sport. First it was the season ticket and then it was Setanta, the sooner the footie comes back to Sky Sports the better.

Rubbish. Sly are rip off merchants. Give it to the terrestrial channels or a freeview/sat station dedicated to sports at a realistic price.

Anyhow there are a ton of Satellite companys that do all the games including the PPV & the 3.00pm kickoffs for a lot less than Sly. I`v used Digialb for Around £200-00 for the last few years. I know of a cheaper & better one for next season that I will probably use.

This item was edited on Sunday, 3rd May 2009, 15:40

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I know of a cheaper & better one for next season that I will probably use.

Please do tell Paull


Anti.Clown.Coalition

Setanta have been fantastic for boxing, showing many bills from the US and signing a deal with Sauerland to bring boxing from Germany regularly into UK households. With the small number of ad breaks during bouts and Bunce`s Boxing Hour, it would be a real shame to see them go and further reduce the amount of live boxing in the UK.

If you add to this the live football, cricket and rugby, it would be a massive loss for sports fans. In my opinion, they ask too little for the amount of sport they offer and any alternative to the Sky monopoly should be welcomed and supported.

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This could be big news for the UFC (Ultimate Fighting Championship), whose American pay-per-view events are being shown on Setanta.

Unfortunately, their coverage of the UFC isn`t great, aside from the fact that it`s live. They constantly stick ad-breaks in between fights, basically removing the pre-fight build-up from the American version of the broadcast.

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Rubbish. Sly are rip off merchants.

I keep hearing this from people, like Paull, but none of them are ever really able to put reason to their argument, other than they`d rather not be paying.
Well, I`d rather not be paying too.
But I`d also rather have Megan Fox wash my penis every morning too.
As far as I`m concerned, SKY is an excellent product worth every penny.
I already pay £76 a month for my package, but it would have to increase by some fantastic amount for me to even consider getting rid.
If Setanta went under and SKY got it back, hoorah.
Even if meant transferring the £15.98 a month I pay for Setanta onto my SKY bill instead.
Fine, just give me decent picture quality, which Setanta have never been able to do.

Spot on Bowf.

While I would say Sky does give you a good picture, the footy coverage is great and the Sky+ functionality works really well...I wouldn`t get close to saying that "SKY is an excellent product worth every penny." though. :(

Ste

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We will pay the price but we will not count the cost..