‘Setanta will survive but no guarantees’

SETANTA Sports founder Michael O’Rourke believes the company will survive its current difficulties but said there are no guarantees.

Mr O’Rourke who founded the Irish sports channel with Leonard Ryan in 1990 said the company is progressing well with attempts to secure reductions on some of its sports rights. He said they are “getting there” on the negotiations.

He also said they are looking to raise funds having established a management team with the task of raising €100 million from investors.