Setanta has appointed the Close Brothers merchant bank to raise approximately £159m in new funding.
The sports broadcaster, which lost a package of Premier League live rights to Sky last Friday reportedly plans to use the funds to buy the rights to some games back under a sublicensing arrangement.
The Premier League only awarded Setanta one package of 23 games in each of the 2010-11, 2011-12 and 2012-13 seasons in the bidding round.
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