Setanta Sports has gone into administration and appointed Deloitte as its administrator.

“This is a sad day for all concerned,” said Setanta chairman Robin Miller. “Unfortunately, in a difficult and highly competitive market, and despite strenuous efforts by the board and management, it has not been possible to find sufficient additional funds in the time available to ensure its survival.”

Setanta lost the rights to the English Premier League Matches on Friday after defaulting on payment.

ESPN picked up the rights for the 46 English Premier League matches next season and the rights for 23 matches in each of the following three seasons.

Neville Kahn of Deloitte said in a statement: “After a huge effort by the Setanta board, management team and its backers, it has not been possible to save the GB business, which will be wound down in due course. This decision means that it will shortly cease broadcasting to its customers in Great Britain.

“However, the international and Ireland businesses continue to trade on air whilst we are in discussions with parties to take on those businesses as going concerns.

“Regrettably, approximately 200 employees will be made redundant in respect of the GB business. Setanta has today suspended the collection of subscription payments from customers in Great Britain.

“Setanta customers should go to www.setanta.com for further information. We can confirm that no further monthly subscriptions or direct debits will be accepted from customers of the UK business.”

5pm Update: Setanta Sports News to close at 6pm this evening.