Irish sports broadcaster Setanta has gone into receivership with the loss of 200 UK-based jobs.
Following the failure of rescue talks, broadcaster Setanta has appointed Deloitte as administrator for the UK part of its businesses. All 200 UK staff, almost half of the company’s employees, will be made redundant.
The broadcaster’s wholly owned channels, including Setanta Sports 1 and 2, ceased broadcasting last night. Setanta Sports News, a joint venture with Virgin Media, employing around 60 people, has also gone off air. Setanta Ireland and Setanta International are still trading, and it is thought that the company is focusing its efforts on selling them as going concerns.
Sir Robin Miller, Setanta’s chairman, said: “Unfortunately, in a difficult and highly competitive market, and despite strenuous efforts by the board and the management, it has not been possible to find sufficient additional funds in the time available.”
Setanta’s collapse was prompted by unpaid debts to sports clubs and leagues, including £30m to the English Premier League and £3m to the Scottish Premier League.