This is a discussion on Setanta go into Administration within the European Sports forums, part of the Sports Forums category; ...
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Setanta came close to falling into administration this morning, but the embattled sports broadcaster was able to negotiate last minute breathing space to ensure it would survive in the short term.
The reprieve, however, was not due to the emergence of a rescue plan, and Setanta remains on the verge of collapse as shareholders battle over whether the loss-making business could be made viable.
A source close to the negotiations between Setanta and its private equity owners, Balderton Capital and Doughty Hanson, said the company’s survival “hung in the balance.” Setanta’s future would be decided “in a matter of days rather than weeks,” the source said.
The Irish company, led by new chairman Sir Robin Miller, is understood to have raised nearly £50 million to fund its operations, well short of the £100 million it was seeking.
Setanta's board met, amid talk of a split between its principal shareholders Balderton Capital and Doughty Hanson over whether to stump up another £50 million to secure the future of the company.
Football clubs around the country, and particularly in Scotland, where Setanta is the only broadcaster of Scottish Premier League games, face financial shortfalls running into the millions if Setanta's lucrative deals with the SPL, the FA and the Premier League cannot be replaced.
Deloitte, the accountancy firm, remains poised to take over the private equity-owned business, which failed to make a £3 million payment to the Scottish Premier League (SPL) last week.
The viability of Setanta’s business model was cast into doubt in February when it lost the rights to show 46 live English Premier League matches. In future it will show only 23 games per season against BSkyB’s 115, leading to concerns that thousands of subscribers will defect. BSkyB is 39.1 per cent owned by News Corporation, parent company of The Times.
Unable to pay £3 million in Scotland, Setanta faces bigger financial hurdles later this month, when a reported £40 million payment to the Premier League falls due.
The broadcaster showed England’s World Cup qualifier on Saturday, but that may be the last time Setanta is involved. A shared deal with ITV saw it secure rights for England and FA Cup matches for £425million.
Setanta, co-founded by Irishmen Leonard Ryan and Michael O'Rourke, which also shows cricket and PGA Golf, has about 1.2 million customers but needs nearer 1.9 million to break even and is losing £90 million a year, according to analysts.
Whether you’re a subscriber to Setanta Sports or not, this is very bad news for sports. Some football clubs are going to find it increasingly hard to survive without this money, especially those north of the border.
Also it’s another blow to anyone who wants to see Sky relived of their monopoly of top class football coverage in the UK. ITV tried and failed with their ON Digital brand – leaving a lot of English League clubs in a lot of financial trouble. Could the same now be happening with Setanta? If they do go into administration I fear that no one will bother to enter the market place, and Sky will hold all the football rights in the UK, without anyone else getting a look in.
I find their coverage to be pretty awful in all honesty, especially of US golf so whether it means Sky have a monopoly over football or not, I don't think I'd really mind seeing them get shut down. Harsh as that may sound.
There's nothing bad about them giving us football covarage, I'm just concerned about the amount of covarage they have comapred to the rest of the competitors. Sky seem to have too much power for my liking. At times ot seems as though they have more power than the clubs and the Premier League themselves. e.g. they change kick off times to suit their needs, and maybe not the needs of the clubs.
Also it’s about having choice. As much as I don’t like Setantas coverage of football, it’s something different to Skys’ coverage. It’s a change.
Sky has coverage of the premier league, football league, international matches, carling cup, champions league and from next season the europa league. That’s the majority of football here in the UK. I just don’t think it’s wise to let one company hold so much power over the football coverage of one country.
Meh, I'm not a subscriber, but I watch most Setanta stuff on streams, so it wouldn't bother me personally that much. Saying that, they show non-League football, which I love to watch.
This is very bad for the UK viewers in my opinion because okay they don't have the best of coverage but they show us sport that other channels don't including some stuff that they only picked up recently. They have Premier League games, England internationals (full and junior), FA cup, the community shield which is always a season starter and they just aqquired the former UEFA cup that is now Europa league. That is a lot of missed viewing and to be fair that is just football, they show more than just that.
This is worst for MMA fans in the UK because it is quite if not very likely that all of the football coverage will just get picked up by Sky Sports so that isn't really much of a problem other than there will probably be less coverage than there was spread over two networks. When it comes to MMA, it isn't really that big in the UK as of yet, the popularity is growing fast but it just isn't there yet. Setanta shows all live UFC events and also show the Ultimate fighter replays, along with other UFC shows. If Setanta goes bust then there is no guarantee that the UFC coverage will get picked up, because I mean, Sky Sports didn't want it before Setanta took it.
Then there is smaller factors for me such as NRL which is Aussie rugby league which I love to watch being a huge rugby league fan. I think I have pretty much covered that this will be bad in a few different directions.
This is worst for MMA fans in the UK because it is quite if not very likely that all of the football coverage will just get picked up by Sky Sports so that isn't really much of a problem other than there will probably be less coverage than there was spread over two networks. When it comes to MMA, it isn't really that big in the UK as of yet, the popularity is growing fast but it just isn't there yet. Setanta shows all live UFC events and also show the Ultimate fighter replays, along with other UFC shows. If Setanta goes bust then there is no guarantee that the UFC coverage will get picked up, because I mean, Sky Sports didn't want it before Setanta took it.
Then there is smaller factors for me such as NRL which is Aussie rugby league which I love to watch being a huge rugby league fan. I think I have pretty much covered that this will be bad in a few different directions.
Very good points.
I’d forgotten about the MMA coverage. As you said, I can’t see Sky Sports picking it up, that would only leave possible Virgin Media? (as they have TUF), but that isn’t going to benefit UFC fans much because there aren’t a lot of people who subscribe compared to Sky.
I have someone who works for me who’s Australian, and she relies on the setanta coverage to keep up with the sports action back there.
If Setanta does go bust, then it’s sports fans who are going to suffer, as Sky will dictate even more of what we are going to watch.
I’d forgotten about the MMA coverage. As you said, I can’t see Sky Sports picking it up, that would only leave possible Virgin Media? (as they have TUF), but that isn’t going to benefit UFC fans much because there aren’t a lot of people who subscribe compared to Sky.
I have someone who works for me who’s Australian, and she relies on the setanta coverage to keep up with the sports action back there.
If Setanta does go bust, then it’s sports fans who are going to suffer, as Sky will dictate even more of what we are going to watch.
Well personally that would suit me because I have Virgin Media and have Virgin 1 that shows TUF but I really can't see them showing anything live like Setanta does, I mean if they were to show it via delay then Bravo might as well have it back.
Setanta go into Administration 
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