DUBLIN – International pay sports television brand Setanta is facing serious financial trouble in the U.K.
Reports out of London and other places say that the Irish company is facing bankruptcy (or, “administration” as they say in the reports) and is considering selling off parts of the company.
The company has stopped taking on new subscriptions and is said to be poised to suspend rights payments to various soccer and rugby leagues as it tries to put together a rescue package worth more than $180 million.
Setanta spent extensively to acquire English Premier League Football rights, as well as the rights to numerous other international sports over the past couple of years.
When it comes to Setanta Canada, executives here are taking a wait-and-see approach, noting that the Canadian operation is a separate company, even though it relies on the parent for the content.
"We can’t comment on the media reports as to the stability of the UK operations, but Setanta Canada is committed to continuing to provide comprehensive soccer and rugby coverage to Canadian sports fans which includes a new deal that makes Setanta Canada and Rogers Sportsnet the exclusive home for English-language coverage for the next three seasons of the UEFA Champions League,” said an e-mail statement from Setanta Canada GM Errol Hinds. “The two networks will pool their resources to bring the Canadian soccer fan more live coverage of the Champions League than ever before"
