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Thread: Setanta struggles with payments and could go off at any time

  1. #1
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    Setanta struggles with payments and could go off at any time

    Accoridng to reports in several papers, Setanta are teetering on the edge and accountancy firm Deloitte is reported to be on standby to put Setanta into administration, meaning that all Setanta channels could be switched off anytime in the next few days.

    _www.business.timesonline.co.uk/tol/business/industry_sectors/media/article6445881.ece

    _www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/5462796/Setanta-faces-final-whistle-over-bills.html

    who knows what will happen...could be interesting for Sky if Setanta is bought by Disney or ESPN, who have been rumourder to be interested in Setanta for a while, and have the financial muscle to be in healthy competion with Sky.

    I have no idea what will happen to all those who currently subscribe to Setanta, if the administrators will continue to broadcast or not...
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    Re: Setanta struggles with payments and could go off at any time

    From BBC News: Also suggests some options the SPL.
    Setanta holds crunch SPL meeting

    The board of football broadcaster Setanta is meeting a week after the company failed to pay the Scottish Premier League (SPL) 3m.

    The SPL has found 3m to distribute to the 12 member clubs from its own funds to tide them over.

    Setanta also has a much larger outstanding payment due to the Premier League in England - about 40m.

    Unless backers agree to supply more cash, Setanta is thought certain to be forced to call in administrators.

    The company was due to make the final payment of the season on Monday 1 June for its Scottish football match coverage.

    Last week the SPL held two board meetings before deciding to find 3m themselves to support the 12 Scottish premier league clubs.

    Unable to pay 3m in Scotland, Setanta face much bigger financial hurdles later this month, when a 40m 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 them secure rights for England and FA Cup matches for 425m.

    Scottish options

    One option for the SPL would be to terminate the contract with Setanta, but such a move would leave the SPL forced to find another broadcasting partner.

    Their weakened position would mean a reduced financial deal.

    Setanta first won the rights to broadcast live SPL matches in competition with previous rights holder BBC Scotland in 2004.

    However, it is unlikely that a free-to-air terrestrial broadcaster could now come close to matching the kind of money offered by Setanta for live coverage of Scotland's top-flight.

    BBC Scotland has been broadcasting SPL match highlights on television and the internet while looking to buy up rights to live matches involving Scottish clubs in European competitions.
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    Re: Setanta struggles with payments and could go off at any time

    A really good article regarding setantas problems, possible buyers, what will happen to the Premier League rights they held, and the impact on viewers.

    _http://www.guardian.co.uk/media/2009/jun/08/setanta-football-premiership-premier-league
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    Setanta survive to live another day!!!

    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.

    _http://business.timesonline.co.uk/tol/business/industry_sectors/media/article6458205.ece
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    Setanta : impending doom?

    The beleaguered pay TV sports broadcaster's subscription website reports that it is "down for routine maintenance". Messages left on its phone line tell prospective customers that the subscription option is "temporarily out of order" and that they should "try again later".
    BBC Radio have reported that the Setanta phone system is down...

    Is this it...? Will another compnay step in???

    From BBC News
    What about the television rights that Setanta has bought?
    If the firm breaches its contract with the Premier League - for example by missing payments - it is likely that the rights will revert back to the league for them to resell. If Setanta does collapse, its broadcasting rights, such as those owned by the Premier League, will revert to the holders, who will then try to find buyers for their broadcasting packages.

    Setanta's current Premier League TV deal has one more season to run. Sky could pick up one of Setanta's two Premier League packages for the 2009/10 season (which each include 23 games) - but it is barred from buying both under competition rules.

    Walt Disney's ESPN TV network has previously considered bidding for Premier League rights as part of its strategy to expand internationally, and is seen as potential bidder.
    Other potential bidders could include ITV, Channel 4, the BBC and Channel 5, according to media analysts.

    From 2010/11, Setanta is only due to be showing one Premier League package of 23 games per season. Again, these rights would have to be resold.
    This may mean that some Premier League football could be made available on terrestrial TV, like Five or ITV!

    MOre when I get it.
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