David Haye Pulling out - Setanta Money Problems

[Abstraction]

Anyone else think this could be the main reason Haye pulled out?

Seeing as Wlad is getting all the money, but only payday Haye is getting is from Setanta if i am correct.

Setanta will probably be unable to pay him.

What do you guys make of it?

[boxasmash]

yes i'm sure it is.

i said it yesterday in my first reponse to it, theres also an articule saying the same thing.

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.

[Gojira]

I would of thought that they have already payed him for the right to televise his fights.

[boxasmash]

I would of thought that they have already payed him for the right to televise his fights.

television networks don't pay in advance.

hayemaker promotions also has a contract with setanta which will suck like mad for haye.

[Abstraction]

Seems to the most likely scenario imo.

Considering so little has been said from the Haye camp.

[The Gully Gad]

I doubt this...

They would just go straight over to the Sky and they would pay for this

Im adding this with the Haye needed to flush steriods out of his system excuse

[jamesc]

itwill be a shame if setanta goes, their boxing coverage has gone downhill but i still couldnt see anyone else showing the same amount...more importantly, where will buncie go!?

[Sparked_1985]

Damn, good call.

**** it, this is probably true.

Setanta couldn't afford to pay Scottish Football Clubs and had to defer payment till Friday, and that was only £3 million.

Setanta are ITV Sportin' themselves, they'll be gone in a month.