Deathwatch: Missed payment another nail in Setanta's coffin?
The end seems nigh for Setanta after the ailing sports broadcaster defaulted on a £3 million payment that was due to the Scottish Premier League at the beginning of this month. Both the SPL and Setanta themselves are refusing to comment on the situation but the pay-per-view broadcaster could well be about to buckle under the weight of their financial obligations, after a search for fresh investment failed to garner significant results.
Setanta, who lest we forget are the current holders of Bitterwallet’s Worst Company In Britain award, got into trouble earlier in the year when they failed to retain their 46-game Premier League package beyond the end of next season. From 2010-11, they’ll have just 23 top-flight matches, and are customers really going to continue to shell out the current £12.99 monthly subscription for that?
The company are believed to be spilling subscribers left right and centre as the footy-less close season arrives and the recession makes their customers think hard about whether they’re getting value for money from Setanta. Their notoriously crappy customer service certainly hasn’t done them any favours over the years, and they’re currently offering potential cancellers a three month deal at just £3.33 a month.
Fresh investment into a company that is looking more and more toxic by the day seems unlikely, and it could be a slow and painful death for Setanta over the coming months.