Setanta enters administration
Deloitte has been appointed as administrator of Setanta after it failed in its bid to secure funding.
The Irish broadcaster has entered administration after missing deadlines to pay the Scottish and English Premier Leagues (see Broadcasters to bid for Setanta football rights).
Deloitte said that Setanta will cease broadcasting in Great Britain but Setanta Ireland and Setanta International are not covered by the appointment. The broadcaster has stopped collection of subscription payments.
The move sees 200 employees made redundant from Setanta’s British operations, out of a total of approximately 420. It has approximately 1.2 million subscribers, with channels available in three million homes.
Sir Robin Miller, chairman of Setanta, said: “This is a sad day for all concerned.
“Unfortunately, in a difficult and highly competitive market, and despite strenuous efforts by the board and management, it has not been possible to find sufficient additional funds in the time available to ensure its survival.”
Setanta had been attempting to secure a funding deal with American businessman Leonard Blavatnik’s Access Industries.
The news follows the confirmation that ESPN has bought the rights to show 46 live Premier League football matches next season, after Setanta missed its Friday payment deadline.