Source: Team_Talk
Setanta continue talks with SPL
The board of the Irish-based company met this morning and will continue to work on a rescue package, with the next couple of days expected to be crucial.
Fears were raised when Setanta failed to pay the final instalment of this season's TV deal last week.
A payment of £3million was due last Monday but that money has still not been received by the SPL by Monday night.
However, league bosses are keen to find a resolution rather than terminate the contract with Setanta and face the prospect of seeking a new broadcast partner.
The SPL have already dipped into their own coffers to distribute around £3million to their 12 member clubs in a bid to tide them over and ease the financial pressure for the time being.
Setanta have already asked to renegotiate their four-year deal with the SPL after losing one of their contracts with the Premier League.
The 12 SPL clubs came to an agreement in April following Setanta's request to change the terms of the contract due to begin at the start of the 2010-11 season, which was initially worth £125million.
Estimates claimed up to £20million could be wiped off the value of that increased deal but the apparent inability to meet one of the demands of their £13.5million annual contract raises further fears.
