Bunce & Hayemaker go where? If Setanta go under

I have a friend who's just been employed by Setanta a week ago.

Seems strange they're employing people when they're on the verge of going under :huh

 

Where is your source?

If we lose setanta it is a complete disaster for boxing.

Its pay the extortionate rate Sky charge you or go f yourself.

It also makes a minority sport less accessible to new fans, because terrestrial TV's coverage is an insult. Aside from the odd ITV 4 crumb.

 

Wonder what bunce has to say about this, if he's around??

 

Keeping my beady eye on the shenanagans of boxing companies and contracts recently has given me an idea.

The owners and directors of Setanta should start up a 'completely unrelated' limited company. Lets call it Cuchulain Sports. Then transfer all the 'good' contracts :deal, like the Prem league, the Top Rank and Hayemaker (along with Bunce and Andy of course) to the shiny new Cuchulain Sports.

Setanta goes into administration along with the crap contracts and the debts. Problem solved. :good

 

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

 

Cheers Andy

An honest response - classy guy

 

Bunce is on like 500k, he won't be short of a donut between jobs

 

Bunce on 500k????????????? HAHAHAHAHA you don't

 

great response from ak
really hope everything sorts itself boxing needs more coverage not less and having to sit throught the so called sky pundits for the hatton fight i can only cross my fingers setanta survives as sky as the home of boxing would be a disaster

 

Would be a bad day if Buncey came off our screens... his boxing hour is just what we need. In boxing the good old greenback is what it is all about... maybe Setanta have tried to move to quick.... I think that Buncey's Boxing Hour has to stay on our screens regardless of what channel it is on..

 

Buncey freelances all over the place so it would be less regular TV work for him but there would be other outlets to see his ugly mush or read his views without seeing his cheap suits.

Maybe he should have a Bunce Fact about this, or retitle that The Bossman Ruling lol.

Perhaps they could flog the format and team to one of the internet channels seconds out or something to increase the hits and buys.

One things for sure though, if Setanta were to disappear there would be a fraction of the overseas boxing that we get at the moment unless ITV4 or somewhere wants a regular Saturday night fight. Couldn't see them doing overseas fights live though.

Cheers Andy btw. Keep up the good work you anchor.

 

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How much do they owe? just to re cap.

 

Its not quite as simple as that. 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.