The Premier League's biggest clubs, who take home the most television money, will be the hardest hit should Setanta be unable to make a US$16.25 million payment by the weekend.

According to The Guardian newspaper, the league can expect to lose UK£30 million (US$48.75 million) in broadcast rights for next year if it is forced to find a new broadcast partner. Setanta's agreement is worth some UK£130 million (US$211 million) per year to the Premier League clubs.

'Those rights...would fetch less than £100m if they were to be auctioned off again. That would equate to a loss of around £1.5m for each of the league's 20 clubs, although the biggest sides, who receive more television money, would be worst hit. Many clubs have already borrowed against that money, and would face a cash crunch ahead of the new season,' reports the newspaper.

The newspaper adds: 'The situation is even more serious for the Scottish Premier League, which is completely dependent on Setanta for its TV income. Several clubs have already said they fear being placed into administration if the money is not forthcoming.'