Over the past 18 months, Setanta has been building up a large roster of football and other sports rights. Late last month, Setanta secured the rights to most of England's away qualifying matches for the 2010 football World Cup, plus most games involving the other home nations.
Tender documents for the three Champions League seasons from July 2009 will be issued in the spring. Uefa is hopeful of raising £150m a year in the UK, up from the current £90m-a-year deal.
"We will be looking at a bid for the Champions League rights," said a Setanta senior executive. "They're certainly going to add value to the portfolio."
Should the private equity-backed TV firm acquire Champions League rights for the three seasons starting August 2009, it would further erode the monopoly currently enjoyed by Sky over top football rights. Previously, it had been assumed that Setanta would not enter the bid-ding fray.
ITV and Sky currently share the Champions League rights in a £90m-a-season deal. According to the source, Setanta would not look to team with another pay-TV player for the rights. "Competition will be strong. You could even see the games being shown on two free-to-air channels," the source claimed.
Sky, conscious of the challenge posed by Setanta, is planning to hang on to its share of rights. Meanwhile, ITV is likely to bid again, with executive chairman Michael Grade prioritising investment in "event television", such as sport.
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