Pay-broadcaster Setanta Sports went into administration yesterday, closing its channels and placing 200 of its 420 employees out of work.
Neville Kahn, Lee Manning and Nick Edwards of Deloitte were appointed as joint administrators to the UK company.
“After a huge effort by the Setanta board, management team and its backers, it has not been possible to save the GB business, which will be wound down in due course,” said Kahn. “Regrettably, approximately 200 employees will be made redundant.
Sir Robin Miller, chairman of Setanta, added: “This is a sad day for all concerned. Unfortunately, in a difficult and highly competitive market, and despite strenuous efforts by the board and management, it has not been possible to find sufficient additional funds in the time available to ensure its survival.”
Last week an offer from the Russian-entrepreneur Leonard Blavatnik to buy 51 per cent of the channel collapsed and on Monday the Premier League announced that it had resold Setanta’s live football rights to Disney-owned ESPN.
