Irish pay-TV outfit Setanta Sports has been forced to abandon its hoped-for sale after buyers deemed the £1 billion asking price too high, The Times reported. The company - which broadcasts English and Scottish soccer matches, Celtic League rugby and overseas sports - is not expecting to break even until the end of ‘08 but in February tapped Goldman Sachs to find a buyer. Times: “It is likely to tap existing shareholders, which include Balderton Capital, Doughty Hanson and Goldman Sachs, for more funds if it needs money.” Setanta already raised a further £90 million in November. Balderton is newly wealthy after its hefty paybacks from the sales of MySQL and Bebo.

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