Setanta collapsed with £550m debt
July 12, 2010 · 0 Comments
The British arm of Setanta Sports collapsed owing £550m to a number of creditors including the Football Association and the Scottish Premier League, according to the final report from administrator Deloitte.
Setanta collapsed last summer with outstanding bank loans of £261 and unsecured debts of £288m according to City A.M. Unsecured lenders are set to receive 2p for every pound claimed.
Setanta attempted to take on Sky Sports in the pay sports TV marketing and succesfully signed up 1.2m customers, however it’s collapse came about after securing just 23 Premiership matches each season from 2010/11 and failure to reach the 1.9m subscribers analysts indicated were required to break even.
Private equity backers refused to help with a £100m refinancing and so the company was put into administration with the loss of around 200 jobs in the UK. The broadcaster continues in the forms of Setanta International and Setanta Ireland.
Tags: FA, Scottish, Setanta Sports
Premier League put UK broadcast rights out to tender
The Premier League have invited broadcasters to bid for domestic UK broadcast rights for the 2013/14-2015/16 football seasons. The Premier League say that 154 matches will be shown live on TV each season from 2013/14-2015/16 more than currently broadcast and more than 40% of all top-level matches. The extra 16 live games ...
1 comment on this story
BBC announce details of Euro 2012 coverage
The BBC have announced the details of their Euro 2012 coverage which will include 16 live games, including a potential England quarter final, both semi finals and the final. Coverage kicks off on Friday 8 June and will be fronted by Gary Lineker who will be joined by Harry Redknapp, Jurgen Klinsmann, ...
Sky Sports agree 4-year ICC deal
England’s men and women’s cricket teams will defend their ICC crowns exclusively live on Sky Sports under a new 4-year deal with ESPN STAR Sports. The agreement awards Sky Sports exclusive rights to the next two ICC World Twenty20 tournaments from Sri Lanka in September 2012 and South Asia in February 2014. ...
That Paralympic Show returns to Channel 4
With the London 2012 Paralympic games now just around the corner, Rick Edwards, Ade Adepitan MBE and Iwan Thomas MBE return with a fourth series of Channel 4’s Road to London 2012: That Paralympic Show. Starting on Saturday 5 May at 1.20pm, the first episode is dedicated to swimming, as Rick, Ade ...
2012 Badminton Horse Trials live on the BBC
UPDATE : HEAVY RAIN & FLOOD WARNING FORCE CANCELLATION OF 2012 BADMINTON HORSE TRIALS Hugh Thomas, event director for the horse trials, said: “The recent exceptional rainfall has left the ground at Badminton totally waterlogged and partially flooded. “Further rain is due this week, leaving no chance of the ground drying out. ...
British Eurosport to screen Great Britain v Sweden Fed Cup tie
British Eurosport will broadcast live coverage of the Fed Cup tie between Great Britain and Sweden over the weekend 21-22 April. Following their successful Euro/Africa Zone Group I wins over Portugal, Netherlands, Israel and Austria in Eilat, Israel in February, the GB Fed Cup team captained by Judy Murray will play Sweden ...