Crucial day for struggling Setanta
Sports broadcaster Setanta faces a day of reckoning today as it struggles to negotiate a rescue deal while fighting off a Premier League threat to pull a major contract.
The Irish firm has until today to fulfil "certain contractual requirements" or face losing the last part of its existing £392 million three-year deal, under which it will show 46 Premier League football matches next season.
An emergency tender of Setanta's games for 2009/10 has already been launched but will be cancelled if the broadcaster manages to meet demands.
Meanwhile Setanta is attempting to stave off administration by raising funds to help pay TV rights bills, which include the Barclays Premier League, as well as the FA Cup and Scottish Premier League (SPL).
A deal has been put forward by US tycoon Len Blavatnik's Access Industries, which is reportedly offering £20 million in return for a 51% stake. Big Brother maker Endemol has also been linked with an investment.
The company, which started taking new subscriptions again this week on hopes of a rescue, boasts around 1.2 million subscribers - but that is still short of the reported 1.9 million it needs to break even and customer numbers have been hit by the recession.
Setanta suspended new subscriptions last week, prompting fears over the future of the business. It also missed a £3 million payment due to the SPL under the current deal - forcing the league to pay clubs from its own pocket.
It owes £30 million to the Barclays Premier League.
Deloitte has been lined up as administrator if the broadcaster's survival efforts fail.
Lana Del Rey: 'I have slept with a lot of guys in the industry'
Peaches Geldof cause of death: 'Heroin addict' socialite had taken fatal dose of drug, inquest concludes
Malaysia Airlines MH17 crash: Pro-Russian rebel 'admits to shooting down plane'
Peaches Geldof inquest: Tragic final moments of socialite's life reveal she lied to husband about failed heroin tests
Israel-Gaza conflict: The myth of Hamas’s human shields
- 1 Malaysia Airlines MH17 crash: Pro-Russian rebel 'admits to shooting down plane'
- 2 Louis van Gaal gets tough with Manchester United players, with Darren Fletcher and Luke Shaw berated in public and Phil Jones left looking bemused
- 3 Is Gideon Levy the most hated man in Israel or just the most heroic?
- 4 Peaches Geldof inquest: Tragic final moments of socialite's life reveal she lied to husband about failed heroin tests
- 5 Israel has discovered that it's no longer so easy to get away with murder in the age of social media
competitive: Progressive Recruitment: My client who are a leading publisher in...
competitive: Progressive Recruitment: A data analytics are currently looking t...
17.5k + Commission (£18.5k after probation period): ESI Media: You will be res...
£25k - £30k (DOE): Guru Careers: Two expert PPC Account Managers are needed to...