ITV DIGITAL: the FIASCO
Carlton and Granada's role in ITV Digital
• The Football League is owed £178.5million* from ITV Digital
• Carlton & Granada are the main shareholders of ITV Digital
• In June 2000, ITV Digital signed a deal to pay £315m over three years to the FL for the right to broadcast Nationwide games.
• Earlier this year, ITV Digital tried to renegotiate the deal with the FL, following a sustained period of losses.
• ITV Digital initially offered the FL £50m instead of the £178.5m it still owed: over £125m less than they are owed.
• The FL rejected this offer, and after this the shareholders of ITV Digital - Granada and Carlton - put the company into administration.
• Since then, ITV Digital reportedly raised their offer to £74m* - still over £105m less than is owed by contract.
• After a buyer could not be found, the administrators shut down ITV Digital with the FL still owed £178.5m
• It has been widely predicted that as many as 30 football clubs will face bankruptcy if ITV Digital fail to pay the remaining £178 million
*Sourced from press reports as at 16th April 2002
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