Setanta has been battling to secure a last-ditch funding deal to save it from administration as it grapples with an estimated £100m funding black hole.
According to sources, talks led by Setanta co-chief executives, and founders, Leonard Ryan and Michael O'Rourke, to secure funding to buy out some of its backers are "progressing".
ESPN, along with several private equity outfits have been linked with a possible acquisition of the company, or, an investment into it.
However, a spokesman for ESPN said today: "We currently have no plans to buy Setanta. There are a lot of stories out there linking us with a possible purchase and we wanted to set the record straight."
Asked whether ESPN is still interested in acquiring English Premier League rights, should Setanta go under, the spokesman said: "It is a hypothetical situation and a question for Setanta and the rights holder."
Setanta, which is attempting to renegotiate key rights deals as it looks to slash costs to stay afloat, is understood to be considering calling in the administrator as it grapples with a funding shortfall thought to be about £100m. Setanta has about 1.2 million UK direct subscribers, but needs 1.9 million to break even.
Setanta is understood to have missed a £3m payment to the Scottish Premier League last week. It is also understood to have to pay the English Premier League about £30m later this week as part of its TV rights deal.
_1.jpg)
.jpg)
