Setanta loses crucial Premier League deal
Sports broadcaster Setanta has lost its contract to show 46 UK football matches next season, the Premier League has said.
Setanta will lose its licence with immediate effect after it was unable to meet contractual requirements. The matches, which are for the upcoming 2009/10 season, will now be put on the market.
In a statement the Premier League said: “It is with considerable regret that we announce that Setanta has been unable to meet their obligations. As such the existing licence agreement between us has been terminated with immediate effect.”
Setanta was dealt a further blow last night as its efforts to negotiate a potential rescue deal failed.
The Premier League will now go ahead and auction the 46 UK live matches for the 2009/10 season.
Setanta is running at an |estimated loss of £100m a year, after missing subscriber targets.
Earlier this week Setanta reopened its website to new subscribers — having closed it for several days.
Late last week Access Industries, controlled by the US investor Len Blavatnik, tabled a £20m bid for a 51% share in the troubled broadcaster.
He and other investors had been carrying out due diligence but the deal will not proceed.