British football will continue to receive monies from troubled Setanta after a deal was agreed to save the broadcasters, reports The Times. Access Industries, a company run by Len Blavatnik, a billionaire businessman, will pay £20 million for a 51 per cent stake in Setanta to help it to avoid administration.

Setanta's football rights include the FA Cup, World Cup qualifiers, the Barclays Premier League, the Clydesdale Bank Premier League and the Blue Square Premier.

Blavatnik is a Russia-born American citizen who has invested in Russian oil. He also backs TopUp TV, which operates pay television on Freeview, has a stake in Sport 5, an Israeli channel, and a stake in Perform Group, a digital sports rights business with clients including the Premier League and some of its clubs.