Setanta UK Finished, Is America Next?

23 June 2009

Well the inevitable has finally happened; Setanta Sports UK is out of business. Soon after announcing Setanta UK had gone into administration, they were soon off the air. Less than three hours after first word leaked out that Setanta UK had gone into administration, all channels, with the exception of ESPN America and Racing UK, were taken off air.

So what does this mean? Understanding the Setanta Sports model, the company is broken into three separate sections; Setanta UK, Setanta Ireland/Northern Ireland, and Setanta International. While only Setanta UK is in administration, what it does mean is if needed, the other two sections of Setanta can be sold off to satisfy debts in the UK.

I can only go on gut feeling here, so here goes nothing. Unless a buyer is found within the next few weeks, Setanta Sports Ireland and Setanta Sports International will be out of business. Deloitte will want to move quickly to settle the debts left behind. With the massive amounts of debt Setanta UK is in (494.2 million US per Reuters), Setanta UK will end up being wound up when it's done. Setanta Ireland and Setanta International right now just became valuable pieces of property.

From every indication, both Setanta Ireland and Setanta International will be sold, and in short order. Thanks to the Irish Times, we have an idea on who could possibly be the front runner for Ireland; that company is Liberty Global. Now the name 'Liberty Global' may not ring a bell off the bat, but the companies they own are another story. In Ireland, Liberty Global are parent company of NTL. In the United States, Liberty Global own Direct TV.

Calling it a hunch, but if Liberty Global are going to purchase Setanta Ireland, they will also put a bid in for Setanta International. That would be good news all around. We would be able to keep our football coverage. Others would get to enjoy Aussie Rules, Rugby, and GAA the channel offers. Sure we lose Football Matters and the Friday Football Show, but it's a small price to pay to keep the sport we all love the most.

Now if they could only do something about that fifteen dollar a month price tag. I know I know, it's only wishful thinking.

1 comments:

Dennis, GM Metro Apartments July 9, 2009 at 4:32 AM  

Any further informatin on this? Just curious as I did use their Setanta-i PPV option until they disappeared into .....

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Johnathan Starling, the self proclaimed 'most brutally honest man on the net, dishes out his own unique brand of opinions, and analysis on the Premier League, Bundesliga, and all things US Soccer.

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