The Premier League have terminated their contract with Setanta with immediate effect after the Irish broadcaster failed to make a scheduled payment before this evening's deadline.
Setanta had been warned earlier this week that the league would sell off their 46 live matches for next season to the highest bidder if they did not make the £30m payment.
Last-ditch efforts by Setanta to secure a rescue package were unsuccessful and the Premier League will announce early next week who has won the rights to show the games.
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."