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Thread: Setanta crisis worsens

  1. #1
    The '59 Sound Mr Brightside's Avatar
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    Default Setanta crisis worsens

    http://business.timesonline.co.uk/to...cle6395582.ece

    SPORTS organisations including the Scottish Premier League may be forced to stomach deeper-than-expected cuts to their TV income after shareholders in Setanta failed to stump up enough cash to keep the broadcaster alive.

    Setanta’s financial position was so parlous this weekend that it asked arch-rival BSkyB, which is 39.1% owned by News Corporation, parent company of The Sunday Times, for a £50m advance payment on a deal that would have seen Sky wholesale Setanta to its own Sky Sports subscribers.

    The proposal of an interest-free loan, which was rejected, would have bridged the gap left by private-equity backers Doughty Hanson, Balderton Capital and Goldman Sachs, which have so far offered to inject £50m into the company.

    Setanta, which has 1.2m customers, must now return for crunch talks with rights holders, including the PGA golf tour. After initially asking for a 15%-20% reduction in terms, the broadcaster is seeking to negotiate some of its rights deals down by 25%.

    The company, which aired the FA Cup Final between Chelsea and Everton yesterday, got into trouble when it won the rights to screen only 23 Premier League fixtures per season from 2010, raising doubts over its future viability.

    Refinancing negotiations are led by a new management team that includes chairman Sir Robin Miller, the Emap publishing veteran.

    The stand-off between sports bodies and shareholders could yet force Setanta into administration. Insiders described talks with all parties as “fluid”. It has until June 15 to make a £35m payment to the Premier League. Deloitte is already advising the firm and would be appointed as administrator if required.
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  2. #2
    woooooooo Hoopymo's Avatar
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    Default Re: Setanta crisis worsens

    so this is bad for us?

  3. #3
    The '59 Sound Mr Brightside's Avatar
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    Default Re: Setanta crisis worsens

    Quote Originally Posted by hoopymo View Post
    so this is bad for us?
    Well maybe not so much for us because we aren't as reliant on their money as the other SPL teams are

    Move it if you want

  4. #4
    Celtic Legend metrobhoy2's Avatar
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    Default Re: Setanta crisis worsens

    At least we could see an end to Scott Booth. I hate that guy!

  5. #5

    Default Re: Setanta crisis worsens

    I hope it does go tits-up for those anti-Celtic fuckers.

    We need to be selling our own TV and Internet rights, but the hangers-on in the spl are like the tail waggin the dug and they will do all they can to hold us back on that front.
    Keeping the faith doesn't mean blind faith...

  6. #6
    like fuck Bhoys Dont Cry's Avatar
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    Default Re: Setanta crisis worsens

    For me this is fucking shit. Setanta is the only option I have to watch Celtic on the big screen.



  7. #7
    Celtic Boys Club Armagh Bhoy's Avatar
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    Default Re: Setanta crisis worsens

    another link here about payment to the SPL - not looking good.
    I hope this is not another ITV type fuckup

    http://www.theherald.co.uk/sport/hea...3m_deposit.php

  8. #8
    Celtic Legend Mr Discharge's Avatar
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    Default Re: Setanta crisis worsens

    Others believe the SPL members only have themselves to blame. Nine of the 12 clubs voted through the agreement with Setanta but Zombies, Celtic and Aberdeen voted against the deal, in favour of renegotiating with the more established BSkyB.
    Interesting...

    I know each club is entitled to its vote but when the three biggest clubs in the league are all against something then why should mediocre clubs like Hearts, Inverness etc get there way over Celtic and Rangers; the only attraction of the SPL.

  9. #9
    Show us your Shareen SwoopingVulture's Avatar
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    Default Re: Setanta crisis worsens

    Quote Originally Posted by Andy View Post
    Others believe the SPL members only have themselves to blame. Nine of the 12 clubs voted through the agreement with Setanta but Zombies, Celtic and Aberdeen voted against the deal, in favour of renegotiating with the more established BSkyB.
    Interesting...

    I know each club is entitled to its vote but when the three biggest clubs in the league are all against something then why should mediocre clubs like Hearts, Inverness etc get there way over Celtic and Rangers; the only attraction of the SPL.
    I guess it's a democracy Andy. If you were a club with a turnover of 2m and Sky offered you 1m and Setanta offered you 2m which one would you pick?

    The question is, if they do go belly up, would the BBC pick up the rights on the cheap and we'd get free footy?

  10. #10
    Celtic Legend Mr Discharge's Avatar
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    Default Re: Setanta crisis worsens

    Quote Originally Posted by SwoopingVulture View Post
    I guess it's a democracy Andy. If you were a club with a turnover of 2m and Sky offered you 1m and Setanta offered you 2m which one would you pick?

    The question is, if they do go belly up, would the BBC pick up the rights on the cheap and we'd get free footy?
    On the face of it you would go with the one offering more money. But Celtic, Zombies and Aberdeen must have had there reasons to turn down the higher offer from Setanta. Did Celtic, Zombies and Aberdeen see Setanta going tits up? If not that, they why did Celtic, Zombies and Aberdeen want to smaller Sky deal over the Setanta deal?

  11. #11
    Show us your Shareen SwoopingVulture's Avatar
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    Default Re: Setanta crisis worsens

    Quote Originally Posted by Andy View Post
    Quote Originally Posted by SwoopingVulture View Post
    I guess it's a democracy Andy. If you were a club with a turnover of 2m and Sky offered you 1m and Setanta offered you 2m which one would you pick?

    The question is, if they do go belly up, would the BBC pick up the rights on the cheap and we'd get free footy?
    On the face of it you would go with the one offering more money. But Celtic, Zombies and Aberdeen must have had there reasons to turn down the higher offer from Setanta. Did Celtic, Zombies and Aberdeen see Setanta going tits up? If not that, they why did Celtic, Zombies and Aberdeen want to smaller Sky deal over the Setanta deal?
    That could well have been an issue. Another might have been that they thought that their "brand" would get more exposure with Sky due to Sky (via Murdoch's NewsInc) having worldwide coverage of TV.

    Maybe they thought that long term it might boost their profile in the far east etc bringing in greater merchandising. The smaller clubs, probably rightly, thought that this would only benefit the big clubs as you dont see many folk in Tokyo wearing a Hull shirt, just the winning teams like Man Utd and Liverpool. Celtic, with their shirts in all Nike shops, would have thought it more benefitial to go down the Sky route.

  12. #12
    Celtic Legend Mr Discharge's Avatar
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    Default Re: Setanta crisis worsens

    Quote Originally Posted by SwoopingVulture View Post
    That could well have been an issue. Another might have been that they thought that their "brand" would get more exposure with Sky due to Sky (via Murdoch's NewsInc) having worldwide coverage of TV.

    Maybe they thought that long term it might boost their profile in the far east etc bringing in greater merchandising. The smaller clubs, probably rightly, thought that this would only benefit the big clubs as you dont see many folk in Tokyo wearing a Hull shirt, just the winning teams like Man Utd and Liverpool. Celtic, with their shirts in all Nike shops, would have thought it more benefitial to go down the Sky route.
    All valid points.

    I do think Celtic and Zombies should get a greater say in this type of thing than the smaller clubs. After all, Celtic and Zombies do carry this league.

  13. #13
    Show us your Shareen SwoopingVulture's Avatar
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    Default Re: Setanta crisis worsens

    Quote Originally Posted by Andy View Post
    Quote Originally Posted by SwoopingVulture View Post
    That could well have been an issue. Another might have been that they thought that their "brand" would get more exposure with Sky due to Sky (via Murdoch's NewsInc) having worldwide coverage of TV.

    Maybe they thought that long term it might boost their profile in the far east etc bringing in greater merchandising. The smaller clubs, probably rightly, thought that this would only benefit the big clubs as you dont see many folk in Tokyo wearing a Hull shirt, just the winning teams like Man Utd and Liverpool. Celtic, with their shirts in all Nike shops, would have thought it more benefitial to go down the Sky route.
    All valid points.

    I do think Celtic and Zombies should get a greater say in this type of thing than the smaller clubs. After all, Celtic and Zombies do carry this league.
    Ha ha, saying that outside of Glasgow could be very dangerous Andy!

    The other clubs would turn round and say, "if you don't like it you can leave". And we have fuck all else we can go to.

    I don't have a problem so much with this deal. The thing i have a problem with is the one team getting relegated. We have the smallest percentage of teams relegated in Europe and that's due to the greed of the teams who know that they lose out massively when they go down. I think a play-off between 2nd bottom of the SPL and 2nd top of div 1 one be great.

  14. #14
    Celtic Legend Mr Discharge's Avatar
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    Default Re: Setanta crisis worsens

    Quote Originally Posted by SwoopingVulture View Post
    Ha ha, saying that outside of Glasgow could be very dangerous Andy!

    The other clubs would turn round and say, "if you don't like it you can leave". And we have fuck all else we can go to.

    I don't have a problem so much with this deal. The thing i have a problem with is the one team getting relegated. We have the smallest percentage of teams relegated in Europe and that's due to the greed of the teams who know that they lose out massively when they go down. I think a play-off between 2nd bottom of the SPL and 2nd top of div 1 one be great.
    haha true! But would just have to remind them that the truth huts.

    The second Celtic and Zombies do leave the SPL (hopefully sooner rather than later) the league will fall away into obscurity.

    I've been thinking the same about a Play Off for sometime, but unfortunately I cant see it happening

  15. #15
    Celtic Legend Anth's Avatar
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    Default Re: Setanta crisis worsens

    Maybe the sky deal offers better bonuses for winning the league and getting into Europe.

  16. #16
    Plastic Scot Buzzbhoy's Avatar
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    Default Re: Setanta crisis worsens

    So much for the myth that the epl sky deal would collapse and we would be able to pick up the pieces another piece of spin to justify the boards penny pinching.

    My friend who is an accountant told me back when we bet them in ibrox that they would be bankrupt in a year, it was before all the news came to light

  17. #17

    Default Re: Setanta crisis worsens

    Setanta, the Irish sports pay channel, is in talks with a new investor which could prevent the company going into administration, the BBC understands.

    The board of Setanta will meet on Friday and a deal could be finalised in the next 72 hours, says BBC Sports Editor Mihir Bose.

    The channel is seeking £50m in funding to avoid administration.

    On Wednesday Setanta confirmed it had stopped taking on new customers as it battles to secure its future.

    Mounting debts

    Talks with fellow broadcaster BSkyB failed while Walt Disney-owned sports network ESPN denied speculation earlier on Thursday it would buy the beleaguered broadcaster.

    But a new investor, who has emerged in the last 24 hours, is now believed to offer the best prospect for Setanta surviving in its present form, says Mr Bose.

    http://news.bbc.co.uk/2/hi/business/8096398.stm

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