Setanta failed to retain Premier League packages for 2010-2013

[alunfennell]

The Premier League has rejected attempts to reschedule payment on its current ?392 million three-year deal with Setanta, according to the Telegraph.

The news comes after Setanta failed to retain its Premier League packages for 2010-2013, and with fewer matches to attract customers, investors are reportedly growing concerned with the company?s future.

After it failed to make a ?10 million payment to the FA in March, a major restructuring has got underway, with former Emap publishing house executive Sir Robin Millar and former Sky executive Gary Mcllraith drafted in.

Executives will attempt to secure backing from more finance houses to get them through the end of the year.

Setanta also has a ?150 million four-year deal with England internationals and the FA Cup, and is looking into a deal with the Scottish Premier League.

Extract from the Telegraph

Regards:
Alun

[caveman_nige]

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[Jasmeet_87]

Setanta will have 1 of the 6 packs 23 games for 2010-2013, down from 2.

[Jasmeet_87]

The beleaguered sports broadcaster Setanta is understood to be talking to rival pay-TV firm BSkyB about a deal that would see it offered as a part of a package of channels to Sky's subscribers.

Setanta lost out to Sky in the auction for live Premier League football rights earlier this year and its future has been in doubt ever since. The Irish company won the rights to just half its present number of matches from next year and is not likely to retain its 1.5 million premium subscribers to its sports channel.

It paid ?159 million in February for the rights to 23 games for three years from 2010.

It has since been in discussion with other sports bodies for which it holds TV rights, including the Scottish Premier League and the Football Association, about renegotiating the financial terms of its existing deals.

It is likely to pay the SPL ?20 million less over four years from 2010 compared with the original arrangement of ?125 million. It is also looking for extra investment.

Setanta has about 3.5 million subscribers in total with the remainder coming from deals with Virgin Media, BT and Tiscali where Setanta is offered as part of a package of channels.

A similar deal with BSkyB would allow Setanta to access more subscribers, but at a greatly reduced rate per head compared with those who pay it direct. BSkyB and Setanta declined to comment. Setanta is scheduled to make a payment of about ?35 million to the Premier League on Friday as part of a ?392 million deal.

Setanta in negotiations over package deal with BSkyB | Mail Online (http://www.dailymail.co.uk/money/article-1179759/Setanta-negotiations-deal-BSkyB.html)