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Early this morning reports were surfacing that Setanta founders Michael O'Rourke and Leonard Ryan were in talks with an unidentified investor hoping to raise the 82.5 million dollars they need to stay afloat. [details]
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I saw an article with an interview with Haye and Booth were they explained in detail what the injury was and he needed an injection into his spine and had to go for physiotherapy for at least another two weeks after that, why would he go through all of that if it was money problems In the interview it also stated that Haye was shadow boxing when his back suddenly went out and it took him over 20mins just to get in the car to go to the hospital, plus Setanta had already ring fenced that money so Haye would have been paid, even if they had gone under Haye would have most likely found Sky more than willing to pick up the fight. Setanta have been in trouble for some time there business model was poor and they over stretched them self’s. I don’t believe this article. -
Ring Fenced
You can Ring Fence a purse but you can not ring fence a percentage of a broadcast that doesn't happen.Would Sky or anyone else have agreed to the same terms and cut as Setanta did...
Bankruptcy or “Administration” as Setanta calls it would have negated the contract or contracts that Haye signed with them including anything that was supposed to be ring fenced
DEF; ringfenced funds, that may only be used for a previously specified purpose
Except what if the funds are not there or company is no longer solvent…Last edited by KTerceira; 06-12-2009, 10:35 AM.Comment
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If this report is true the Klitschkos should never enter into a contract with Haye again. How's the saying go? Fool me once- shame on you; fool me twice shame on me...Comment
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