Setanta in administration

Brian Turner

June 23, 2009

Setanta Sports has gone into administration, after failing to make a series of payments for sport broadcasting rights.

Setanta has been in trouble for some time, operating at a loss under normal circumstances.

However, this month it became clear that Setanta Sports would be no longer able to refinance existing debt, and therefore be unable to pay due rights fees.

ESPN has already bought the rights to broadcast 46 Premiership games next season, which came up for resale over the weekend after Setanta was unable to meet a payment deadline from the FA.

While Setanta did attract last minute private investment business, it seems any such deal was unable or unwilling to salvage Setanta’s UK operations.

Setanta International and Setanta Ireland will continue to broadcast as normal.

It’s UK operations have already begun to close down, though, with no new subscriptions available, and 200 UK-based staff up for redundancy.






 

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