Setanta

[Peter5]

Or as my father in law to be would say, Sultana..... Anyway, is it true it might be folding? Any news would be good, shame, I mean, they do put on some good fights :no:

[Jay]

JUST this very second been reading an ESB"thread. I'll link to it, and I'll also quote a post by Andy Kerr.

Bunce & Hayemaker go where? If Setanta go under - East Side Boxing Forum (http://www.eastsideboxing.com/forum/showthread.php?t=139142)


Listen guys, While we appreciate your concens, and I sincerely mean that, I don't think you should panic yet. The situation doesn't seem too good but our bosses are discussing plans for Haye v Vlad as we speak, and how we cover it. We are in Sheffield on Friday for the ABA's and then back in Germany on Saturday. At the risk of ending up for a chicken coup worth of egg on my face ...don't panic yet. There must be 100's of us work for the company who'd be in major trouble if Setanta was to go under. So as for seeing Haye v Vlad?
. I'm pretty sure you'll see it.....If I hear anything different I'll shout out here or on Twitter!

andy Kerr

That's the best I've got so far from someone within the company. Another guy made a decent post about the situation - apparently clued up on contract law and the general business sector.


Its not quite as simple as that. (IN RESPONSE TO "HOW MUCH DO THEY OWE")... Setanta are and always have been loss making and that in itself isn't a huge problem as long as the owners and investors (partly the founders but mainly private equity companies) continue to have faith in the long term strategy of the company.

Basically they want it to continue growing, become more sustainable and sell it at a profit to one of the big boys. This 'big boy' couldn't be sky due to competition law. More likely a US parent like ESPN.

The big issue was when they lost the Monday night portion of the prem league rights for the next three year contract. They only have the Saturday games which wasn't part of the Business Plan. This makes setanta much less attractive to subscribers and thererfore the growth projections are out of the window.

The investors arses start twitching and they start to focus not on how to grow and develop the business, but on how to minimise their losses on their current investement. Hence the negotiations to restructure payments, the 'new' business plan, the new chairman and the need to get investors and creditors around the table.

That is all without mentioning the obvious massive downturn in advertising, and average consumers discretionary spend. To the man on the street, a £13 setanta subs is virtually the definition of 'discretionary spend'

Hope it works out, I really do.

[Peter5]

Thanks Jay. Its a shame if it went under, its the best we have for Boxing over here I guess, Sky dont seem interested in Boxing, maybe they would be if they didnt have to compete with Setanta? Who knows, but I would miss it, and I must admit, I might actually miss 'ol Buncey!!

[Jay]

Thanks Jay. Its a shame if it went under, its the best we have for Boxing over here I guess, Sky dont seem interested in Boxing, maybe they would be if they didnt have to compete with Setanta? Who knows, but I would miss it, and I must admit, I might actually miss 'ol Buncey!!
Buncey is great.

Sky never liked boxing before Setanta..

Setanta is brilliant for boxing though - covers quite a lot, and actually seem to care about it. This may probably explain the lack of coverage for Froch - if Setanta are struggling.

[Peter5]

Buncey is great.

Sky never liked boxing before Setanta..

Setanta is brilliant for boxing though - covers quite a lot, and actually seem to care about it. This may probably explain the lack of coverage for Froch - if Setanta are struggling.

Yeah I heard some rumblings during the Froch saga, thought that was why they didnt even make a bid for it. Yeah, they do seem to care about it, thats why it would be such a shame if it went bell up, I mean, I have see so many fights on there that otherwise I would have had to watch online next day/next week, its insane. Fingers crossed :yup: