British sport is facing a fiscal crisis after the Prime Minister League withdrew Setanta's contract. "As such, the existing licence agreement between us has been terminated with immediate effect." The Premier conference will now re-tender the 46 live m...
British sport is facing a fiscal crisis after the Prime Minister League withdrew Setanta's contract. "As such, the existing licence agreement between us has been terminated with immediate effect." The Premier conference will now re-tender the 46 live matchs to other broadcasters in 2 packages of 23 live games. It will also throw into question Setanta's contracts with the football tie-up, worth 150 millionPounds, as good as a 125 millionPounds deal with the SPL, a 54 millionPounds deal with chancellor rugby and a 100 millionPounds contract with the us PGA Tour. With a lot of the money though to grow been paying on deposit already, they are hopeful that the variety of rights-holderwill be cash-neutral. The conference will promise to recover most of the 131 millionPounds Setanta paid for the final year of its existing deal. He said : "We have worked well with Setanta's management and potential new investors in the last week, and had reached a solution in principle that would have allowed them to meet their contractual requirements with the FA," . "Regrettably, despite intensive efforts on all sides over the past few days, and despite significant progress in a number of areas, there remain a number of issues which we have been unable to resolve within the time available. "We are disappointed not to have been able to make this deal happen."
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