BSkyB has said it refused a £50m lifeline to struggling sports broadcaster Setanta. Sky's chief executive Jeremy Darroch said the company were 'a broadcaster not a bank' but insisted it had no wish to see Setanta go into administration.
Reports said Setanta had asked Sky for a £50m interest-free loan and in return offered access to the live rights to 46 English Premier League games next season as an add-on option to Sky Sports.
The Irish broadcaster is in crisis with a payment of more than £30m due to the Premier League this week and backers refusing to advance it any more money.
Mr Darroch told a Sports Industry Group event in London today: "Our job is not to fund other companies. We have been talking to Setanta, and trying to work with them and help them.'
The Premier League should not be too badly affected should Setanta go into administration as it has won only won one of the six live broadcast packages for 2010 to 2013.
