From The Times
June 8, 2009



Setanta edges closer to administration




Setanta faces the prospect of calling an administrator — a collapse that would wreak havoc with football club finances — after the loss-making sports broadcaster failed to secure a deal that would guarantee its future as a business.

Deloitte, the accountant, is on standby to take over as the private equity-owned business struggles to close a funding gap of nearly £50 million. A board meeting on Saturday failed to achieve a breakthrough, raising concerns that lucrative television deals will cease both north and south of the border.

Setanta’s board will hold another crisis meeting today against a bleak backdrop. It has failed to persuade shareholders to produce more cash, or find a new investor or buyer for the business, which analysts estimate is losing £90 million a year.

The mood at Setanta has become increasingly gloomy over the past week as no answer to its problems has emerged. Its backers, led by Goldman Sachs, Doughty Hanson and Balderton Capital, have refused to offer more than £50 million of the £100 million needed to secure its future.


The ailing broadcaster failed to make a £3 million payment to the Scottish Premier League (SPL) last week because it could not release cash to third parties until it found out whether it was viable. It is thought that it will be in default from today.

The SPL said that it was still talking to Setanta and there were no immediate plans to seek a winding-up order to get its cash. Setanta has five years to run of a £125 million contract. Nevertheless, the SPL said that it would “do whatever was needed to protect our member clubs’ interests”.

Setanta has asked the SPL and its other sporting partners the Football Association, the FA Premier League and the US PGA, the American golf body, to make concessions.

Setanta has one season left on its three-year, £392 million deal with the FA Premier League, with a new £159 million three-year deal to follow after that. It also holds rights to show some FA Cup and England games, bought for £150 million in a four-year deal.




http://business.timesonline.co.uk/tol/business/industry_sectors/media/article6451894.ece

shame really cos gonna miss the Boxing Hour

Look at all those big money deals they've made. No wonder they're going in to administration.

Setanta has one season left on its three-year, £392 million deal with the FA Premier League, with a new £159 million three-year deal to follow after that

It doesn't even have that many premiership games on.

Just a case of poor management.

downfall for them was when they lost the rights to the PL and the price of sport channel.

I'm well gutted because loads of the best boxing matches are on this channel, and if they go to Sky Sports, it'll all be PPV!! That's a kick in the teeth and a half.

They are dealing with Deloitte administrators, these guys took control of a company I once worked for and assured us they were going to make a quick sale to some interested parties, a few weeks later they shut us down and liquidated the assets.

Same thing is happening here, Deloitte will try to sell Setanta in the coming weeks/months and if no one buys they are finished.

I heard ESPN were interested in buying Setanta?

I heard ESPN were interested in buying Setanta?


Fingers crossed cos Sky might buy them or worst still, let them go bust then hoover up their ex clients.

I think it would be cool if ITV Merged with ****anta but its not likely.

Aren't ITV having similar problems financially?

Fingers crossed cos Sky might buy them or worst still, let them go bust then hoover up their ex clients.

I think it would be cool if ITV Merged with ****anta but its not likely.

If ESPN do buy Setanta, they'll probably re-brand it to ESPN Europe or some **** and start airing Baseball and Basketball - as well as all the other ****ty American sports.

Aren't ITV having similar problems financially?



Not sure about that, I think they just gave up Boxing.

Personally I would rather they gave up ****e like Coronation Street.

Not sure about that, I think they just gave up Boxing.

Personally I would rather they gave up ****e like Coronation Street.

Haha, yeah but then they would be proper in the ****, as much as I hate soaps haha.

They've gotta few upcoming fights on ITV4 though haven't they, Tyson's 7th bout etc.

They've gotta few upcoming fights on ITV4 though haven't they, Tyson's 7th bout etc.

June 13th?

Right?

ITV 4 has got one year left of its boxing contract and they announced they won't renew, thats all I know.


As for ESPN, if they did buy ****anta then we would get all the ESPN fights and ESPN 2 Boxing coverage, American Friday night fights and stuff.

I hope it happens.

As for ESPN, if they did buy ****anta then we would get all the ESPN fights and ESPN 2 Boxing coverage, American Friday night fights and stuff.

I hope it happens.

The FNFs are on Channel 5 on the following Wednesday at like 2am. I'm sad enough to stay up and watch it!

:poke:

But yea, the ESPN coverage on fights is a plus. As long as they still provide coverage on our sports.

The FNFs are on Channel 5 on the following Wednesday at like 2am. I'm sad enough to stay up and watch it!

:poke:

But yea, the ESPN coverage on fights is a plus. As long as they still provide coverage on our sports.

June 13th is John Thaxton and Tyson Fury so should be two good fights.

ESPN buying Setanta would be good because then we'll get Friday Fight Nights, didn't know they did replays on the Wednesday on C5 though, cheers for the info on that.

ESPN buying Setanta would be good because then we'll get Friday Fight Nights, didn't know they did replays on the Wednesday on C5 though, cheers for the info on that.

I think it's Wednesday, I'll go check the listings for a definite time though.

Brb.

June 13th is John Thaxton and Tyson Fury so should be two good fights.

ESPN buying Setanta would be good because then we'll get Friday Fight Nights, didn't know they did replays on the Wednesday on C5 though, cheers for the info on that.

John Murray

The FNFs are on Channel 5 on the following Wednesday at like 2am. I'm sad enough to stay up and watch it!

:poke:

But yea, the ESPN coverage on fights is a plus. As long as they still provide coverage on our sports.

hey man i watch fnf then too, it comes on after kotv classics:boxing:

The FNFs are on Channel 5 on the following Wednesday at like 2am. I'm sad enough to stay up and watch it!

:poke:

But yea, the ESPN coverage on fights is a plus. As long as they still provide coverage on our sports.

Why wouldn't they provide coverage on your sports? ESPN isn't stupid, they realize no one is going to watch the channel if they litter it with basketball, baseball, and american football games.

With that said, I don't see ESPN having interest.

The FNFs are on Channel 5 on the following Wednesday at like 2am. I'm sad enough to stay up and watch it!

:poke:

But yea, the ESPN coverage on fights is a plus. As long as they still provide coverage on our sports.



I've seen it sometimes but I normally get up aboutreal early for work so late nights are out of the question for me.

I blame this on Steve Bunce talking copious amounts of BS for an hour every Thursday. It replays all weekend too, making matters worse! This could be trouble for the smaller Premiership Clubs that rely heavily on TV revenue. Will make the gap between the top clubs and the rest even bigger IMO

I've seen it sometimes but I normally get up aboutreal early for work so late nights are out of the question for me.

Yeah, I checked papers and it's not on all week this week..

Wonder why?

:doh:

ANy updates on the romours ESPN is taking over???

ITV 4 has got one year left of its boxing contract and they announced they won't renew, thats all I know.


As for ESPN, if they did buy ****anta then we would get all the ESPN fights and ESPN 2 Boxing coverage, American Friday night fights and stuff.

I hope it happens.
I dont see why they would be called ****anta.These guys have done enough for boxing.The only reason why ITV shows boxing was fear of losing viewers to Setanta and we guys are the overall winners.Remember SKY reduced their boxing back in 2003 and they were not even showing Cotto anymore.We guys were shown Cotto-Judah by Setanta and now if they go we are ****ed.

Setanta paid all that money for footy games and most of them are not big games, if Setanta survive this they should let Sky have all the footy and concentrate on buying the rights for all boxing fights,turn it into the boxing channel. :boxing:

This is bad for UK boxing fans if Setanta does go bankrupt i hope someone can save them they show good fights without any PPV charges

If ESPN do buy Setanta, they'll probably re-brand it to ESPN Europe or some **** and start airing Baseball and Basketball - as well as all the other ****ty American sports.

I've had ESPN latino for years (it should be called ESPN Mexico though) and all they ever give is soccer and soccer related programs (which I have no interest in), a newly added weekly one hour boxing show with MAB, and the occasional baseball games (which is popular there).

ESPN is the leader in sports for a reason, they aren't stupid enough to want to Americanize programming instead of giving y'all what y'all want. I could see ESPN buying Setanta, but I could see them waiting for them to become defunct and acquiring the non-toxic assets when/if they are liquidated and starting and ESPN UK or Europe.

I dont see why they would be called ****anta.These guys have done enough for boxing.The only reason why ITV shows boxing was fear of losing viewers to Setanta and we guys are the overall winners.Remember SKY reduced their boxing back in 2003 and they were not even showing Cotto anymore.We guys were shown Cotto-Judah by Setanta and now if they go we are ****ed.

I think Setanta is a good sports channel. It shows top class bouts with no extra charge like the one on this weekend Cotto v Clottey. Its good for other sports aswell eg. soccer, golf, ufc even though myself arent into those sports that much but it has a good variety of sports. As for ESPN taking over that would be great as we would probably all the other posrts a fnf cards

I dont see why they would be called ****anta.These guys have done enough for boxing.The only reason why ITV shows boxing was fear of losing viewers to Setanta and we guys are the overall winners.Remember SKY reduced their boxing back in 2003 and they were not even showing Cotto anymore.We guys were shown Cotto-Judah by Setanta and now if they go we are ****ed.



They are called that for a reason, they have been in the papers many a times about their poor service and wrose customer service.

Freeview viewers were getting their signal cut in the middle of Football and Boxing and missing big stuff.

If you phoned them you were given no help at all.

I don't pay for the fukers myself.

Bring on ESPN !

I believe they are going to be off air by midnight tonight .

damn shame all this , could have easily been avoided if they had just not took on sky and got some english football games , their EPL pursuit was their fatal error

I believe they are going to be off air by midnight tonight .

damn shame all this , could have easily been avoided if they had just not took on sky and got some english football games , their EPL pursuit was their fatal error

I agree, that ****ed them in ze bumhole.

That and England Internationals.

They needed 1.9 million subscribers and got 1.2 million, so they weren't that far from getting it right.

I bet they would have got that same 1.2 million, without any English Football whatsover.

Scottish Football
Rugby
Boxing
UFC
Gaelic Football and Hurling
IPL and other cricket
The AFL
The NBA

.............that would have worked man. Damn, f.ucking shame.

There was only one Setanta. Ko'd like Ricky Hatton.

:frown:

has it gone now? lol

has it gone now? lol

Not right now but you can bet your boots its happening.

alot of people are saying it is goin off air tonight. hope not, wanna watch UFC countdown tomorrow night.

alot of people are saying it is goin off air tonight. hope not, wanna watch UFC countdown tomorrow night.

lmao gutting.

i have it.

I'm hoping to see the Clottey Vs Cotto fight.

I'm hoping to see the Clottey Vs Cotto fight.

We are all gutted if it aint on Saturday. plan was to get some beer in, smokes, food sit down watch UFC 99 then stay up and watch Cotto v Clottley. plans right down the ****ter if it is off air. might aswell go out on Sunday instead now.

Anyone up for starting our own Radio station? pirate Boxing station and few of us can report latest news etc....anyone intrested?

We are all gutted if it aint on Saturday. plan was to get some beer in, smokes, food sit down watch UFC 99 then stay up and watch Cotto v Clottley. plans right down the ****ter if it is off air. might aswell go out on Sunday instead now.

Anyone up for starting our own Radio station? pirate Boxing station and few of us can report latest news etc....anyone intrested?

Radio show would be cool but I would be too pished and no one would understand my accent.

Radio show would be cool but I would be too pished and no one would understand my accent.

Understand scouse accents? I could be the voice

Understand scouse accents? I could be the voice

he's from glasgow ,he talks like Rab C Nesbitt !

he's from glasgow ,he talks like Rab C Nesbitt !

It's ok I can understan Rab....at times anyways.

I'd have a right moan about what is pissing me of this week on Boxing, I would sound like this.



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Setanta currently still on air.

Setanta currently still on air.

I think it will be at least a week before something drastic happens but it will happen.

Setanta currently still on air.

Wait, what?!

No Buncey this Thursday?!

:theyareon

Well its still going and everything looks set for the weekend...

Wait, what?!

No Buncey this Thursday?!

:theyareon

****.

I must have been tired last night, I thought you said it was off air.

D-Day For Setanta After Last-Ditch Meetings

http://uk.biz.yahoo.com/090610/140/imcam.html


"At the end of the day we are not a bank, we are a broadcaster, not a supplier of working capital to a business and rights holder.

"Our job is not to fund other companies. This is a huge amount of money."










Setanta fights for its life as sports await fate

http://www.telegraph.co.uk/sport/5489116/Setanta-fights-for-its-life-as-sports-await-fate.html



This massive fund-raising program was required to underwrite future rights commitments of £666million



666 ? haha looks like Setanta done a deal with the devil and hes come to collect their soul. :bad:

reports in the Mirror before is that ESPN are lookin at buyin the rights for the football and Setanta and everything else it owns and just call it ESPN Setanta UK.

reports in the Mirror before is that ESPN are lookin at buyin the rights for the football and Setanta and everything else it owns and just call it ESPN Setanta UK.

Lol.

They should just call it ESPN UK.

Lol.

They should just call it ESPN UK.

agreed. ESPN Setanta UK just sounds ****.

ESPN EUROPE ? :spank:

Setanta stops signing new subscribers


http://uk.news.yahoo.com/22/20090610/ttc-setanta-stops-signing-new-subscriber-fe50bdd.html

2 hours 37 mins ago


''As has been widely reported in various media channels, the management of Setanta Sports is in the process of attempting to secure the future of the business," it said on its Web site.

"The company has not gone into administration. All our channels are still broadcasting across all platforms and our subscribers can continue to enjoy our programming.

"However, in the current circumstances, we have decided to suspend temporarily the acceptance of new subscriptions." Rescue talks are being led by its founders Michael O'Rourke and Leonard Ryan, who started the business after charging fans to show an Irish World Cup match which was not available on British channels in a pub in London in 1990.

It grew quickly, acquiring the rights to show sports around the world from soccer to boxing, cricket and golf and is now struggling to meet the payments. The group has 1.2 million direct subscribers and needs around 1.9 million to break even according to analysts




BSkyB could acquire some rights, although not all due to competition rules, while Disney's sports service ESPN could be interested again after failing at the previous auction.

Setanta is a privately backed company whose shareholders include its management team and institutional investors.


I think they will go bust then ESPN will let SKY take the Football and they hoover up all the rest.

Racing UK and NASN American Sports is part of Setanta as well.

ESPN has dismissed press speculation that it is considering making a bid for Setanta, saying it has "no current plans" to acquire the ailing sports broadcaster.

The Disney-owned sports network has its ESPN America channel distributed by Setanta in Britain and lost out to Setanta when it bid for Premier League rights earlier this year. It had been seen as a potential buyer of the business, and press reports had indicated Setanta had mulled selling an equity stake to ESPN to plug its £50m funding gap.

"We currently have no plans to buy Setanta," an ESPN spokesperson said. "There are a lot of stories out there that link ESPN with a possible purchase. We wanted to set the record straight."

ESPN would not be drawn on whether it was interested in the various rights packages currently held by Setanta in the event that it went into administration.

Ahhh well.


Fingers crossed someone decent does something to save our boxing.

I still can't see a rescue package happening.

I think they will go into liquidation and Sky Sports will buy up all the Football, BBC will buy PGA Golf, Bravo will buy back UFC and Boxing will go to the highest bidder, either SKY or BBC or a new change of heart ITV.


Only other option for boxing is Virgin Media taking an interest or someone like ESPN buying the Boxing rights and making a channel here that won't include football.


Only time will tell, let the truth set itself free....

Today I had to factory reset and rescan my Cable Box due to alot of channels going missing.

After I sorted it all out I got all my channels back plus some I had not had in a long while.

The funny thing is I did notice one channel was missing but I also found a new one which has made up for it....

I have lost a sports channel called NASN - American Sports which was owned by SETANTA and I have found a (new ?) channel called ESP AMERICA.

Is this what I think it is or has ESPN AMERICA been around for awhile and my Box just didn't find it before ?

English Premier League voids contract with Setanta


Ailing broadcaster loses rights to show 46 top-flight matches as prime investor backs away from buying large stake in company.



Setanta has received a double dose of bad news, as the English Premier League terminated its contract with the cash-strapped broadcaster while it learned that a financial backer has stepped away from the negotiating table.

The developments put the troubled company on the brink of collapse and raises concerns for the Scottish Premier League, which relies heavily on multi-million pound rights fees from the broadcaster.

Setanta said is remains on air as it weighs its options.

The Irish broadcaster had until Friday to pay £10million to the league as part of its deal to show 46 English matches each season. It is understood the broadcaster made a £10million payment last week to the league and would have owed another £10million in July.

The league had given Setanta this latest deadline to meet demands relating to the final season of its £392million three-year deal.

Setanta will lose its licence with immediate effect after it was unable to meet "certain contractual requirements", the English league said in a statement.

The matches, which are for the upcoming 2009-2010 season, will now be put on the market. Sky Sports and American broadcaster ESPN are likely to make an offer before bidding closes on Monday.

Setanta issued a statement late on Friday. It said:

"The Board of Setanta notes the statement issued earlier today by the Premier League and will consider its options over the weekend. In the meantime, Setanta's sports channels continue on air."

The broadcaster is attempting to stave off administration by raising funds to help pay TV rights bills, which include the FA Cup, professional golf and rugby, as well as the SPL.

Shortly after the league's announcement came word that a Russian-American investor had backed out of negotiations to support the business. Investment group Access Industries, which was founded by multi-millionaire Len Blavatnik, said it was unable to reach agreement with Setanta and will not be investing in the ailing company.

Setanta offered no comment on this development.

Setanta boasts around 1.2million subscribers, about 700,000 shy of what analysts believe would allow the business ot break even. It recently resumed offering new subscriptions, after a brief suspension, prompting fears over the future of the business.

The firm earlier missed a £3million payment due to the SPL under the current deal, forcing the league to pay clubs from its own pocket.

Deloitte has been lined up as administrator if the broadcaster pulls the plug.


Last updated: 19 June 2009, 22:35



http://news.stv.tv/scotland/103639-english-premier-league-voids-contract-with-setanta/

ESPN buys rights to Setanta games


ESPN has bought the rights to show 46 games in next season's English Premier League that were to have been shown by struggling broadcaster Setanta.



Disney-owned ESPN has won the two packages of games shown on Saturday teatimes and Monday evenings. Both will be sold to customers through BSkyB.

It has also won the 23 games per season Setanta was due to show from 2010-13.

The league took the broadcasting rights back from Setanta on Friday after it missed a payment deadline.

Meanwhile, the Scottish Premier League (SPL) has taken back its UK rights for 2009/10 "and beyond" from Setanta after the Irish broadcaster missed a £3m payment.

The SPL said it was now "actively engaging in the process of selling our domestic broadcasting rights".

'British commitment'

ESPN said in a statement it had "reached an agreement for its coverage to be retailed by Sky to residential and commercial customers", who will pay extra to view the games. ESPN also hopes to make coverage available on other platforms.

It is the first time that ESPN will broadcast live Premier League football in the UK.


WHAT IT MEANS TO YOU
ESPN's matches will be available on BSkyB
You will pay an extra amount for the ESPN matches
Games likely to be on a new branded ESPN channel - separate from the existing ESPN Classic and ESPN America
ESPN want it on other platforms other than BSkyB, though BT Vision and Virgin Media are yet to comment

The broadcaster already has two channels in the UK, one covering American sports and another showing archived action.

"This move demonstrates our commitment to British sports fans and our ongoing commitment to delivering football to fans around the world across a variety of media," said Russell Wolff, managing director of ESPN International.

Premier League chief executive Richard Scudamore said that ESPN had a "formidable worldwide reputation and experience in sports".

I am sure we will enjoy a long and fruitful relationship with them," he added.

"I would like to thank ESPN, as well as all the other broadcasters who submitted bids, for their professionalism and effort in engaging in our sales process at such short notice."

Other rights

BSkyB had been expected to buy the package of Monday night games, which it has already won from 2010/11 onwards. It will show 92 games next season and then 115 in each of the following three years.

Attention could now turn to the other broadcasting rights that Setanta owns.

It has contracts with the FA for England and FA Cup matches, and with the Blue Square Premier, the top division of English non-league football.

It also owns rights to the PGA golf tour, as well as cricket and rugby union deals.

It is running at an estimated loss of £100m a year, after missing subscriber targets.

The broadcaster has 1.2 million subscribers, 700,000 short of the 1.9 million that industry experts believe they need to break even.

Deloitte has been lined up as administrator should, as is widely expected, Setanta fail.





http://news.bbc.co.uk/1/hi/uk/8113702.stm

Its shocking for the sport in the UK where the only decent TV coverage is going to go under (Setanta). ITV4 shows were really good with Mick Hennessy (sp?) and then you had Setanta boxing which was great too but I cant see them lasting much longer. You can tell how much interest the BBC has in boxing just by looking at the BBC Sport website and the shockingly bad boxing section. Rarely updated and poor.

That sums up the BBC and boxing. Frank Warren has hit the nail on the head with Sky (and the other TV stuff) about Friday nights - its a bad slot and Saturday night would be awesome.

All of this sort of thing just promotes the use of bad quality internet streams. But thats going to be the only way we are going to be able to see fights in the UK soon.

The UFC just cut it's ties with the Setanta and now looking for new network.

Setanta offically gone into adminstration.

Setanta offically gone into adminstration.

Yeah English website is gone

SETANTA IN ADMINISTRATION

no way am i going to pay some ****ing american company to watch ENGLISH football games. generally i liked the variety setanta had, decent football, UFC, boxing, baseball etc they even showed the NBA play offs. so unless ESPN can come up with some sort of package like this i will NOT subscribe.

R.I.P. SETANTA


Your going to be missed, thats for sure.




http://www.setanta.com/global/gb.html