Setanta receives £20million offer for majority of stake
An offer of £20million for a 51% stake in subscription broadcaster Setanta has been made by US investor Len Blavatnik.
The offer has been proposed by Blavatnik's private company Access Industries as the company faces administration.
It has been reported earlier today that the company was in talks with a potential investor.
A statement from Access Industries said: "The Access proposal is subject to a number of preconditions being met. Access believes that this proposal would secure the the future of the broadcaster for customers, football and employees."
It is thought that the board has recommended accepting the officer which is subject to a closer inspection of Setanta's accounts.