Setanta has lost the rights to show 46 2009/10 Premier League games.
The future of football broadcaster Setanta was hanging in the balance last night after the Premier League terminated its licence to screen topflight football games.
The pay-TV group had been locked in discussions with media mogul Len Blavatnik, who had been considering tabling a rescue bid.
But the company ran out of time to meet the deadline for paying the ?30m it owes the football authorities.
Setanta had been given until the end of Friday to pay the bill or risk losing the crucial rights package.
Everything rested on Blavatnik's Access Industries taking a ?20million stake. However, that doesn't seem to have happened in time.
The Premier League has already invited rival bidders to tender for Setanta's rights, which will go on sale on Monday. Disney-owned sports channel ESPN is expected to be among those interested.
The loss of 46 matches to the broadcaster will destroy much of Setanta's value.
It fell into crisis after failing to attract enough subscribers to cover the hefty ?392million it paid to steal the rights off rival BSkyB
The league said in a statement: 'The Premier League has been working with Setanta for some time to help them continue as the broadcaster of 46 UK 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 2009 to allow the preparations for the 2009/10 season to continue unaffected.
'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 market the 46 UK live matches for the 2009/10 season.'
Focus will now shift onto Setanta's other contracts - with the FA, for England and FA Cup matches, the Scottish Premier League, and the Blue Square conference.
The US PGA golf tour, boxing promoters, the Indian Premier League and Premier Rugby are all owed cash by the company too.
Under a pre-arranged deal, ITV would take over the rights to up to eight England away friendlies for a pre-agreed sum.
A spokesman for Setanta declined to comment last night.
The future of football broadcaster Setanta was hanging in the balance last night after the Premier League terminated its licence to screen topflight football games.
The pay-TV group had been locked in discussions with media mogul Len Blavatnik, who had been considering tabling a rescue bid.
But the company ran out of time to meet the deadline for paying the ?30m it owes the football authorities.
Setanta had been given until the end of Friday to pay the bill or risk losing the crucial rights package.
Everything rested on Blavatnik's Access Industries taking a ?20million stake. However, that doesn't seem to have happened in time.
The Premier League has already invited rival bidders to tender for Setanta's rights, which will go on sale on Monday. Disney-owned sports channel ESPN is expected to be among those interested.
The loss of 46 matches to the broadcaster will destroy much of Setanta's value.
It fell into crisis after failing to attract enough subscribers to cover the hefty ?392million it paid to steal the rights off rival BSkyB
The league said in a statement: 'The Premier League has been working with Setanta for some time to help them continue as the broadcaster of 46 UK 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 2009 to allow the preparations for the 2009/10 season to continue unaffected.
'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 market the 46 UK live matches for the 2009/10 season.'
Focus will now shift onto Setanta's other contracts - with the FA, for England and FA Cup matches, the Scottish Premier League, and the Blue Square conference.
The US PGA golf tour, boxing promoters, the Indian Premier League and Premier Rugby are all owed cash by the company too.
Under a pre-arranged deal, ITV would take over the rights to up to eight England away friendlies for a pre-agreed sum.
A spokesman for Setanta declined to comment last night.
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