Setanta has defaulted on a £3m payment to the Scottish Premier League, resulting in the ailing sports broadcaster losing its rights to screen SPL matches in 2009-10 and beyond.

At 3pm today, all rights that had been acquired by Setanta have reverted to the SPL, which is now "actively" seeking a buyer. ESPN and Sky are understood to have made approaches for the rights, with Sky believed to be favoured.

SPL executive chairman Lex Gold said: "Setanta has been unable to meet our extended deadline for the outstanding £3 million payment to the SPL and, in terms of the notice previously issued, our British broadcasting rights for season 2009/10 and beyond revert to us.

"We are now actively engaging in the process of selling our domestic broadcasting rights for next season and beyond."