vicky-27 Posted May 4, 2009 Share Posted May 4, 2009 Satellite broadcaster Setanta is seeking to defer a £60million payment due to the Premier League this month and may consider requesting a reduction in its rights fees. The broadcaster is understood to be facing a potential cash-flow crisis and is hoping to renegotiate its payment schedule. Talks between League chief executive Richard Scudamore and the broadcaster are understood to have taken place this week. Setanta currently has a £392 million three-year contract to show two packages of live Premier League games, with the money payable in six equal instalments over the course of the contract. Setanta met its January payment in full but there are now concerns over whether it can meet the May instalment. The uncertainty arises as a result of Setanta's failure to retain both packages of Premier League games in the auction for 2010-13 rights. The defeat has prompted a review of the business. Setanta is thought to be attempting to defer as many payments as possible to refinance and seek new lines of credit. In March Setanta was late with a scheduled £10 million payment to the Football Association, prompting fears that it might not be able to fulfil its numerous contracts across UK and international sport. It eventually made the payment to the FA, but its negotiations with the Premier League could cause fresh concerns. The Premier League is Setanta's most important partner and its biggest creditor, and should it fail to meet its obligations to them then other sports and governing bodies will fear the worst. Setanta has already held talks with other rights holders including the Scottish Premier League, with whom it has a four-year deal worth £125 million. The broadcaster has been said to be seeking a reduction of as much as 20 per cent in that fee but the SPL will resist any such move unless it receives guarantees that there will be no further calls for cuts. Link to comment Share on other sites More sharing options...
Thornhill Posted May 4, 2009 Share Posted May 4, 2009 This is probably because they pissed god knows how much up he wall trying to out-do sky, bbc and itv.. Link to comment Share on other sites More sharing options...
Day Posted May 5, 2009 Share Posted May 5, 2009 Nigel Doughty's company owns about 20% of Setanta, and? I hear you ask, well I don't know what my point is actually. Link to comment Share on other sites More sharing options...
vicky-27 Posted May 5, 2009 Author Share Posted May 5, 2009 Might scupper Billy's £20 million then - i hear he wants 2 players for every position and 4-6 strikers Link to comment Share on other sites More sharing options...
Day Posted May 5, 2009 Share Posted May 5, 2009 And god help em if Billy doesn't get what he wants. Link to comment Share on other sites More sharing options...
vicky-27 Posted May 5, 2009 Author Share Posted May 5, 2009 Oh yes I've got the tissues ready for Elvis. Link to comment Share on other sites More sharing options...
Boycie Posted May 5, 2009 Share Posted May 5, 2009 Doughty's used to his investments owing him millions of money that he will never get back. Link to comment Share on other sites More sharing options...
Perky1106 Posted May 5, 2009 Share Posted May 5, 2009 Setanta in crisis? So, what's the bad news? Link to comment Share on other sites More sharing options...
rams71 Posted May 5, 2009 Share Posted May 5, 2009 if only it was Sky tv going tits up,oh well we live in hope Link to comment Share on other sites More sharing options...
CumbrianRam Posted May 5, 2009 Share Posted May 5, 2009 Originally posted by rams71;13890 if only it was Sky tv going tits up,oh well we live in hope That would be VERY funny. Link to comment Share on other sites More sharing options...
Day Posted May 6, 2009 Share Posted May 6, 2009 Both to go tits up would be very nice but I'l be happy with just one of them going tits up, having to subcribe to both to watch football is a joke although if Setanta went belly up I would give it a year then we'l see Virgin Football Channel. Link to comment Share on other sites More sharing options...
derbydan Posted May 6, 2009 Share Posted May 6, 2009 Originally posted by rams71;13890 if only it was Sky tv going tits up,oh well we live in hope wouldn't suprise me any1 see watchdog the other night 2 hours on hold to sky its a fookin disgrace there was a top 6 i think it was of the worse companies to keep you waiting and sky came out as worse and funnily enough all of those companies were having technical dificulties with there phone lines all at the same time lol yeah rite Link to comment Share on other sites More sharing options...
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