Jump to content
Washington Football Team Logo

Setanta Sports under "Administration"


Recommended Posts

WOW! Yep, that's right folks; one of the premier networks in the UK and Europe has filed for bankruptcy.

What does it mean? The end as we know it for Euro Sport telecasting until someone steps in to fill the void. This includes sports like Futbol (all leagues including the Premier leagues), Tennis, Cricket, F1, Grand Prix, and basically anything across the pond.

Setanta goes off air at midnight GMT.......

Seems like the economy is hitting everywhere.

Maybe Sky can fill the void, but it is unlikely.

Link to comment
Share on other sites

Can you please explain for us Yankees what happened?

Irish sports network that showed specialist sport in small but partisan markets. Expanded into showing a very limited amount of English soccer but can't refinance their debt (debt was cheap and easy to get into, not so much now...) because they are about 800k subscribers away from the 1.9m they need to break even.

It's a freebie on my cable package is how good it was....

Link to comment
Share on other sites

Their new customer figures just didnt stack up against costs and commitments to various deals. The down turn in the economy (especially an Irish based company where the economy went tits up a while back) meant investors pulled the plug.

It has a major implications for Scottish soccer which Setanta held the rights for. Most Scottish clubs exist on pretty tight budgets and projected income 2-3 years down the line. The way the economy is somone will probably pick up the Setanta rights but at a pretty reduced price. Suddenly Scottish soccer clubs have a big whole in their projected budgets :doh:

There is an issue with Sky because of monopoly rules. Setanta had no chance any way - if Sky were showing Liverpool-ManU and Setanta had Burnley-Fulham....

Link to comment
Share on other sites

I'm confused. It's definitely going off the air at midnight???? Still has the schedule/listings for the rest of the week - no sign of bankruptcy on their website

new customers trying to subscribe today found that the site was down. Basically, they are scrambling around for last minute money to save themselves - they have reneged already on deals for payments to Scottish football and currently are down £30m on payments to English football with no money to pay it. Add to this that they have lost rights to English premiership soccer games as of next year which was a key investment strategy for them...believe me, they are finished no matter what the web site might like people to think. Maybe not tonight but its a done deal.

Link to comment
Share on other sites


This topic is now archived and is closed to further replies.

  • Recently Browsing   0 members

    • No registered users viewing this page.
  • Create New...