Russian born billionaire Leornard Blavatnik has offered Setanta Sports £20 million (€23.4 million) in return for a 51% stake. Blavatnik’s Access Industries already owns a minority 3% stake in the troubled sports broadcaster.
“The Access proposal is subject to a number of pre-conditions being met. Access believes that this proposal would secure the future of the broadcaster for customers, football and employees,” said a statement released by Access Industries.
It is believed Blavatnik is the mystery investor that came to light in overnight press reports.
Blavatnik is also the largest investor in the DTT pay service Top Up TV in which he has a stake in the region of 70%. He also owns Premium TV, the digital media sports group that builds and manages websites for organisations including Chelsea FC and the Premier League, previously operated by NTL.
Other holdings include the Russian broadcaster CTC Media.