Crucial day for struggling Setanta
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.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.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments