Setanta

June 19, 2009 Setanta in cliffhanger over Premier payment Irish broadcaster must find £10 million today or see its rights to 46 Premier League football matches sold next week Setanta, the Irish pay-TV broadcaster, must today pay £10 million to the English Premier League or lose its right to the games next season. Rival bidders have already been invited to tender for the right to broadcast 46 Premier League matches in the event that Setanta fails to pay the second instalment on £30 million owed to the league. If the Irish broadcaster is unable to meet the payment, the TV rights to the 2009-10 season will be sold after the tender deadline on Monday. The financial cliffhanger has led Setanta into talks with Access Industries, the conglomerate owned by Len Blavatnik, the Russian-born oligarch, who is considering a £20 million investment in the TV company. Endemol, the company that produces Big Brother is also believed to be considering an investment. The loss of the package of 46 Premier League matches would probably prove fatal for the company, which depends heavily on football fans for subscriptions to its service. Under competition rules set by the European Commission, the Premier League cannot sell all its matches to one broadcaster. Top of Form Bottom of Form Setanta has failed to secure enough subscribers to finance its rights to cover matches and it failed to make a £3 million payment to the Scottish Football League earlier this month.