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Setanta
Loses Premier League Rights
Pay-TV sports broadcaster Setanta has failed to pay the
latest instalment of the £30m it owes the English Premier League - losing
the rights.
A potential rescue deal, led by a US investor who had proposed buying 51% of
Setanta, had fallen through.
The league will now put the rights to the 46 live matches for the 2009/2010
season out to auction, after Setanta missed yesterday's payment deadline.
Offers to buy the rights need to be made by Monday.
The Board of Setanta said it would "consider its options over the weekend".
"In the meantime, Setanta's sports channels continue on air," it added.
The Premier League said: "It is with considerable regret that we announce that
Setanta has been unable to meet their obligations. As such the existing
licence agreement between us has been terminated with immediate effect."
The Premier League will now go ahead and auction the 46 UK live matches for
the 2009/10 season.
11:45
June
20 2009 - waveguide.co.uk
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