The English Premier League is preparing to put the broadcasting rights held by troubled firm Setanta back up for sale if the group does not pay its latest instalment by Friday, it said today.
A Setanta spokesperson said it was 'not unexpected' that the Premier League would take this action as a contingency measure. But the company expects the league to withdraw the tender process providing Setanta's board approves by Friday a deal put forward by US tycoon Len Blavatnik's Access Industries.
Setanta has been locked in emergency refinancing talks in the last two weeks after missing a £3m sterling payment to the Scottish Premier League earlier this month.
It is now due to pay the English Premier League more than £30m for the right to show 46 live matches in the 2009/10 season.
Setanta is considering a deal put forward by Access, which is reportedly offering £20m sterling in return for a 51% stake. Big Brother maker Endemol has also been linked with an investment.
'Although the Premier League would like to provide Setanta with as much time as possible to re-arrange its finances, the start of the 2009/10 season is only two months away, with the release of fixtures imminent,' the league said in a statement today.
The Disney-owned sports network ESPN is expected to bid for any new rights.
Meanwhile, Setanta began taking subscriptions from new customers again today
'All of our channels are still broadcasting across all platforms and our subscribers can continue to enjoy our programming. We are taking subscriptions from new customers...both online at www.setanta.com and at our call centres,' a statement on its website said today.
The firm had suspended new subscriptions on Wednesday, prompting fears over the future of the business. Deloitte has been lined up as administrator if Setanta's efforts fail.
Setanta was founded in 1990 by Michael O'Rourke and Leonard Ryan. It currently holds the rights to show two English Premier League packages, or 46 live matches a season, but it lost out in the auction for the next three-year deal to BSkyB and will in future show only 23 games per season against BSkyB's 115.
