With some analysts doubting Setanta's future after it failed to renew both its Premiere League packages, Access Industries, which is headed by the Russian-born US citizen Len Blavatnik, is understood to have acquired a stake of about 3%.

Blavatnik’s petrochemicals business, Lyondell Basell filed for bankruptcy protection last month owing $26bn. Royal Bank of Scotland was forced to write off a £2.5bn loan to the company made by ABN Amro, the Dutch bank which was taken over by RBS.

Blavatnik’s company also has a shareholding in Top Up TV, the pay-television company founded by the former BSkyB executive David Chance.

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