Second force Premiership television provider Setanta is seeing its financial situation deteriorate and the ultimate outcome may be less money for the Premiership, although its slots could always be bought out by a third party. Shareholders in the company have failed to stump up enough cash to keep it going. It even asked BSkyB for a £50m advance payment on a deal that would have seen Sky wholesale Setanta to its own subscribers.
Second force Premiership television provider Setanta is seeing its financial situation deteriorate and the ultimate outcome may be less money for the Premiership, although its slots could always be bought out by a third party. Shareholders in the company have failed to stump up enough cash to keep it going. It even asked BSkyB for a £50m advance payment on a deal that would have seen Sky wholesale Setanta to its own subscribers. The proposal of an interest free loan, which was rejected, would have bridged the gap left by private equity backers which have so far offered to inject £50m into the company. Setanta, which has 1.2m customers, could yet be forced into administration. It has until June 15th to make a £35m payment to the Premier League.
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