Setanta board to meet again over rescue package

THE board of Setanta Sports is expected to meet again next week to consider fresh rescue packages for the ailing broadcaster, which surfaced on Tuesday night.

Going into Tuesday evening’s near three-hour emergency board meeting (which was only adjourned and not formally concluded), the company – which is thought to be losing approximately £100 million (€115m) per year and which recently lost half of its British football transmission rights to rival Sky Sports – looked headed for administration in Britain.

The possibility also exists that its Irish and international arms will be spun off and sold as standalone assets.