ESPN, the Walt Disney owned sports broadcaster, today ruled itself out of a rescue takeover of the ailing Setanta Sports, although it is still believed to be interested in buying football rights should the Irish sports group collapse.
The American company, which has been repeatedly linked to a takeover, as Setanta’s problems deepened said that it “wanted to set the record straight”. A spokesman said: “We currently have no plans to buy Setanta”.
However, while ESPN refused to say whether it would bid for Premier League broadcasting rights if they became available, the American company would be expected to see if it can take on British football for the first time.
ESPN bid unsuccessfully against Setanta and Sky for Premier League rights earlier this year, and given its size in America, has long been touted as an eventual entrant into Britain. But it has always acted cautiously, and so far failed to bid enough to win rights.
Meanwhile, Setanta has suspended all new customer subscriptions as it tries to organise a £100 million rescue package. Investors have so far refused to put up more than £50 million.
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It is understood that Michael O’Rourke and Leonard Ryan, the founders, are now considering selling Setanta’s US and Irish operations, possibly to Denis Desmond, the Irish music promoter who has a 20 per cent stake in Setanta Ireland.
The sale of the company’s international assets could plug the funding gap in time for Setanta to pay a critical instalment of around £30 million to the English Premier League on Monday. However, sources close to the talks suggest that no offers to rescue Setanta have yet been received by the broadcaster.
Many of Setanta’s international channels, which focus on showing British sport to the expat community, are profitable. Setanta declined to comment on the possibility of selling off its international assets and Mr Desmond could not be reached.
The broadcaster’s collapse would leave British sport needing to plug a £500 million-plus black hole, with football and rugby union clubs at risk of having their incomes cut. Deloitte remain on standby as administrators, should the business fail.