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| Version 2 | Version 3 |
|---|---|
| Setanta loses Premier TV rights | Setanta loses Premier TV rights |
| (10 minutes later) | |
| Troubled sports broadcaster Setanta has failed to pay the latest chunk of the £30m it owes the English Premier League, and will now lose the rights. | Troubled sports broadcaster Setanta has failed to pay the latest chunk of the £30m it owes the English Premier League, and will now lose the rights. |
| The League has threatened to sell the rights to the 46 live matches Setanta has for the 2009/2010 season if the broadcaster failed to make the payment. | The League has threatened to sell the rights to the 46 live matches Setanta has for the 2009/2010 season if the broadcaster failed to make the payment. |
| It will now put the rights out to auction, with offers needed by Monday. | It will now put the rights out to auction, with offers needed by Monday. |
| A potential rescue deal, led by a US investor who had proposed buying 51% of Setanta, fell through. | A potential rescue deal, led by a US investor who had proposed buying 51% of Setanta, fell through. |
| 'Regret' | 'Regret' |
| The Premier League said it had "been working with Setanta for some time to help them continue as the broadcaster of 46 English live matches for the 2009/10 season". | |
| The Premier League, in agreement with Setanta, stipulated that certain contractual requirements had to be met on or before Friday, 19 June, "to allow the preparations for the 2009/10 season to continue unaffected". | The Premier League, in agreement with Setanta, stipulated that certain contractual requirements had to be met on or before Friday, 19 June, "to allow the preparations for the 2009/10 season to continue unaffected". |
| The league added: "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." | The league added: "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." |
| The Premier League will now go ahead and auction the 46 UK live matches for the 2009/10 season. | The Premier League will now go ahead and auction the 46 UK live matches for the 2009/10 season. |
| 'Issues' | 'Issues' |
| Late last week, Access Industries, controlled by the US investor Len Blavatnik, tabled a £20m bid for a 51% share in Setanta. | Late last week, Access Industries, controlled by the US investor Len Blavatnik, tabled a £20m bid for a 51% share in Setanta. |
| It had been hoped Access could lead a consortium of investors to provide fresh funding for Setanta. | It had been hoped Access could lead a consortium of investors to provide fresh funding for Setanta. |
| Mr Blavatnik had been studying Setanta's books | Mr Blavatnik had been studying Setanta's books |
| However Access has now said it was unable to proceed with a deal with Setanta. | However Access has now said it was unable to proceed with a deal with Setanta. |
| It is understood that the deal faltered after it was revealed that Setanta owed a reported £50m to UK tax authorities. | |
| "Access believed that this proposal could potentially have secured the future of the broadcaster for its customers, employees and for football, provided certain conditions required to put the business on a long-term viable footing were met," it said. | |
| "Regrettably, despite intensive efforts on all sides over the past few days, and despite significant progress in a number of areas, there remain a number of issues which we have been unable to resolve within the time available. | "Regrettably, despite intensive efforts on all sides over the past few days, and despite significant progress in a number of areas, there remain a number of issues which we have been unable to resolve within the time available. |
| "We are disappointed not to have been able to make this deal happen. Access remains committed to sports programming and will continue to explore opportunities in this area." | "We are disappointed not to have been able to make this deal happen. Access remains committed to sports programming and will continue to explore opportunities in this area." |
| One of those which may be interest in acquiring Setanta's 46 games is Disney-owned sports channel ESPN. | One of those which may be interest in acquiring Setanta's 46 games is Disney-owned sports channel ESPN. |
| 'Bad news' | 'Bad news' |
| ESPN would not comment directly on the new situation but said it continued "to be interested in rights where they are available and where they make business sense". | ESPN would not comment directly on the new situation but said it continued "to be interested in rights where they are available and where they make business sense". |
| Meanwhile James Pickles, editor of industry newsletter TV Sports Markets, said that until Thursday there were expectations that Setanta would pull though. | Meanwhile James Pickles, editor of industry newsletter TV Sports Markets, said that until Thursday there were expectations that Setanta would pull though. |
| "It's bad news for everyone - no one is a winner," he said, adding: "It's a disaster for rights holders." | "It's bad news for everyone - no one is a winner," he said, adding: "It's a disaster for rights holders." |
| He said it was bad news for Sky because having a competitor such as Setanta was beneficial to it from an EU regulatory perspective, which prevents one broadcaster owning all Premier League rights. | He said it was bad news for Sky because having a competitor such as Setanta was beneficial to it from an EU regulatory perspective, which prevents one broadcaster owning all Premier League rights. |
| However Sky would be legally free to bid for one of Setanta's two packages of 23 games. | However Sky would be legally free to bid for one of Setanta's two packages of 23 games. |
| Last week Setanta reopened its website to new subscribers - having closed it for several days. | Last week Setanta reopened its website to new subscribers - having closed it for several days. |
| Setanta is running at an estimated loss of £100m a year, after missing subscriber targets. The broadcaster has 1.2 million subscribers, 700,000 short of the 1.9million that industry experts believe they need to break even. | Setanta is running at an estimated loss of £100m a year, after missing subscriber targets. The broadcaster has 1.2 million subscribers, 700,000 short of the 1.9million that industry experts believe they need to break even. |
| Attention will now shift onto Setanta's other contracts - such as those with the FA for England and FA Cup matches, the Scottish Premier League, and the Blue Square conference. | |
| The company also owns rights to the PGA golf tour, as well as cricket and rugby union deals. |