Setanta could appoint Top Up TV founder to the board

Top Up TV founder David Chance could be appointed to the Setanta board following the departure of Irish financier Barry Maloney earlier this week.

The appointment would come as part of American businessman Len Blavatnik’s £20 million rescue deal for the beleaguered broadcaster.

Blavatnik, whose Access Industries currently holds a majority stake in Top Up TV and a 3% stake in Setanta, has put forward £20 million in return for the Access stake increasing to 51%.

On Monday, the Premier League told Setanta that it will auction-off its rights to air 46 live games next season unless it makes its next payment deadline of this Friday 19 June (see Premier League gives Setanta Friday payment deadline).

Last week, Setanta missed a £3 million payment to the Scottish Premier League.