It seems that money is not the only problem rocking the satellite sports broadcaster Setanta’s boat.
A conflict of interest has occurred and as a result Barry Maloney, who is a senior partner in Balderton Capital, has stepped down from the board of Setanta to avoid being caught up in conflict of interest claims.
Currently, Balderton Capital owns over twenty per cent of Setanta, but it also owns a stake in Top Up TV, which Setanta has a deal with.
Top Up TV provides Setanta services to Freeview viewers. It has a stakeholder called Access Industries which is looking to take a major stake in Setanta.
Therefore, Barry Maloney is stuck between the two companies and could even be seen as being in a position to influence the decision of the Setanta management.