Body blow to UK boxing as Setanta folds tent

Examiner.com22nd June, 2009

If you thought Manny Pacquiao sent Ricky Hatton reeling, you ought to see what crushing debt has done to UK cable broadcaster Setanta.

The subscription service, which has been a Godsend to promoters and fighter in the midst of the economic crunch, is on the financial ropes. That´s not exactly a state secret but now sources are telling me that Setanta could shut it doors as soon as Monday.

It does not mean curtains for boxing in the UK. But the current situation, with Joe Calzaghe in retirement, Hatton licking his Pacman wounds and heavyweight mouth David Haye claiming a bad back, is not good when you combine that with the continuing credit crisis.

Setanta, which also offered the bright lively weekly boxing panel show hosted by colorful scribe Steve `Big Daddy¨Bunce, is in hock to both the English Premier League and the Scottish Premier League. We are talking something in ther area of 33 million British pounds.

Pundits report that Setanta, with only 1.2 million subscribers, is losing 100 million British pounds per year.

And you thought Miguel Cotto was bleeding badly.

Hatton, Haye and super middleweight champ Carl Froch will have to soldier on along with Freddie Roach pupil Amir Khan.

If Khan cops a world title, look for Hatton to give him a well paying go.

Haye will eventually get his beating from Vitali Klitschko and Froch will make some more noise at 168 pounds.

But none of them will be getting any loot from Setanta as the cupboard looks empty.

Terrestial broadcater ITV has also backed away from funding boxing;

The TV winner?

BSkyB, of course, but I can´t see promoters or fighters having much leverage with Mr. Murdoch´s powerful company.

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