News is hitting the wires that beleaguered Setanta Sports is unable to come up with the required cash for the Premier League today, which means its TV contract has been canceled. What will happen to the Special One?
Update: Confirmed by the BBC.
The league added: "It is with considerable regret that we announce that Setanta has been unable to meet their obligations. As such the existing licence agreement between us has been terminated with immediate effect.
The rights to show the 46 match package for next year will now be put up for auction.