Setanta’s desperate search for a buyer
THE future of sports broadcaster Setanta still hung in the balance last night as bosses desperately tried to find a new backer.
The cash-strapped company, which employs more than 100 people in Scotland, owes more than £38million to football associations on both sides of the UK border.
Setanta is said to be pinning its hopes on selling off its US and Irish businesses to avoid being broken up and put into administration.
The struggling broadcaster needs £100million to secure its future and selling off these overseas operations could raise a third of that amount.
But there was a fresh blow when US television channel ESPN – owned by the Walt Disney company – said it had no current plans to buy its rival.
Setanta missed a £3.5million payment to the Scottish Premier League last week, with more than £35million due to the English Premier League next week.
Some clubs could be forced out of business if the money is not found.