Sport broadcaster Setanta has fallen into administration after failing to secure the required financial backing.

Irish broadcaster Setanta has gone into administration after failing to make several payments and secure any additional financing.

Setanta has now ceased broadcasting to customers in Great Britain as of 6pm yesterday (23 June) but will continue to operate in the USA, Canada, Australia, Republic of Ireland and Northern Ireland.

Setanta Ireland and Setanta International have not gone into administration

The news comes after American broadcaster ESPN bought the rights to screen various Premier League matches after Setanta failed to secure the packages.

The collection of British customer subscriptions was suspended immediately.

Deloitte has been appointed administrator for the firm.

200 of Setanta’s employees working within operations for Great Britain will be made redundant. Setanta had a total of 420 employees working within the UK and Ireland.

In a statement, Setanta said: “Existing investors were prepared to commit substantial additional funds to the business, subject to improvements in its operating performance.

“Setanta sought to make significant reductions in its cost base by measures that included renegotiating its agreements with commercial partners and rights holders. Although progress was made, the improvements achieved were insufficient to ensure that the business could become profit-making.”

Sir Robin Miller, Chairman of Setanta, said: “Unfortunately, in a difficult and highly competitive market, and despite strenuous effort by the board and management, it has not been possible to find sufficient additional funds in the time available to ensure its survival.”