Setanta Sports in final countdown

[boxasmash]

http://www.dailymail.co.uk/sport/art...w-Setanta.html

Could this be why Haye has pulled out? The Sports network would have paid his purse and Setanta could be finished by the 20th June.

They already owe £3M to the SPL which they was unable to pay.

[boxasmash]

Final whistle set to blow for Setanta?
Last updated at 8:28 AM on 04th June 2009

Setanta are now in such financial trouble that Saturday’s live coverage of England’s World Cup qualifier in Kazakhstan could be their last.
The TV sports network’s future has been in doubt since the cataclysmic loss of half their live Premier League rights for the season 2010-11 onwards in the March auction.
Since then an emergency restructuring programme has taken place to persuade their investors to bankroll another £100million despite Setanta’s reduced long-term appeal to subscribers.

However, Setanta have now failed to raise the necessary funding, with venture capitalist backers prepared only to put in half the massive sum needed despite economies made by a leaner Setanta, including renegotiating contracts and delaying payments where possible.
A £3m bill from the Scottish Premier League has not been paid and this month’s £40m instalmentto the Premier League is looming, while boxer David Haye calling off his world heavyweight fight, due to be screened by Setanta on June 20, is connected to the TV meltdown.Unless fresh monies or a genuine takeover possibility emerges, the next PL payment may see Setanta trading insolvent and going into administration.

This will result in a fire sale of rights, including the £425m deal for England and FA Cup matches shared with ITV which is still in its first season.
No one will pay anywhere near Setanta’s rates to pick up the doomed contract — so the drastic snowball effect of lost revenues fall on the FA.
Setanta’s last hope was a request for a £50m interest-free loan from Sky — to make up the investor shortfall — in return for Setanta effectively becoming an add-on option to Sky Sports.
Sky’s weekend rejection may be Setanta’s death warrant. Disney channel ESPN are waiting like vultures for the Setanta carcass, although widespread rumours Disney had already offered a derisory one dollar for Setanta were strongly denied.
Sky may still decide at the last minute to accept the Setanta proposal on more favourable terms — if it prevents their major long-term rivals ESPN grabbing a Premier League foothold by default.

[Ray*]

Uhmmmmmmmmmmmm interesting.

[Mr. Philadel]

Final whistle set to blow for Setanta?
Last updated at 8:28 AM on 04th June 2009

Setanta are now in such financial trouble that Saturday’s live coverage of England’s World Cup qualifier in Kazakhstan could be their last.
The TV sports network’s future has been in doubt since the cataclysmic loss of half their live Premier League rights for the season 2010-11 onwards in the March auction.
Since then an emergency restructuring programme has taken place to persuade their investors to bankroll another £100million despite Setanta’s reduced long-term appeal to subscribers.

However, Setanta have now failed to raise the necessary funding, with venture capitalist backers prepared only to put in half the massive sum needed despite economies made by a leaner Setanta, including renegotiating contracts and delaying payments where possible.
A £3m bill from the Scottish Premier League has not been paid and this month’s £40m instalmentto the Premier League is looming, while boxer David Haye calling off his world heavyweight fight, due to be screened by Setanta on June 20, is connected to the TV meltdown.Unless fresh monies or a genuine takeover possibility emerges, the next PL payment may see Setanta trading insolvent and going into administration.

This will result in a fire sale of rights, including the £425m deal for England and FA Cup matches shared with ITV which is still in its first season.
No one will pay anywhere near Setanta’s rates to pick up the doomed contract — so the drastic snowball effect of lost revenues fall on the FA.
Setanta’s last hope was a request for a £50m interest-free loan from Sky — to make up the investor shortfall — in return for Setanta effectively becoming an add-on option to Sky Sports.
Sky’s weekend rejection may be Setanta’s death warrant. Disney channel ESPN are waiting like vultures for the Setanta carcass, although widespread rumours Disney had already offered a derisory one dollar for Setanta were strongly denied.
Sky may still decide at the last minute to accept the Setanta proposal on more favourable terms — if it prevents their major long-term rivals ESPN grabbing a Premier League foothold by default.

ANOTHER believeable reason......thx my dude