Sky's chief executive Jeremy Darroch said they were "a broadcaster not a bank", but insisted they had no wish to see Setanta go into administration.

Setanta had asked Sky for $100million and in return offered access to the live rights to 46 Premier League games next season as an add-on option to Sky Sports.

The Irish broadcaster is in crisis with a payment of more than $60million due to the Premier League this week and backers refusing to advance them any more money. There have been some reports Setanta could go into administration as soon as tomorrow.

Darroch told a Sports Industry Group event in London today: "Our job is not to fund other companies.

"We have been talking to Setanta, and trying to work with them and help them.

"At the end of the day we are not a bank, we are a broadcaster, not a supplier of working capital to a business and rights holder.

"Our job is not to fund other companies. This is a huge amount of money."

Another broadcaster, ESPN, is favourite to step in and take over Setanta's Premier League games if they go into administration but they refused to comment.

Meanwhile, Setanta's subscription services for new customers became unavailable today. Website applicants were flashed a message saying: 'Oops! Something has gone wrong....'

Setanta's customer services confirmed to callers that new subscriptions were unavailable but they hoped the situation would have returned to normal by tomorrow.

The Premier League should not be too badly affected should Setanta go into administration as they have only won one of the six live broadcast packages for 2010 to 2013.

The Football Association, who have a $300million deal for England and FA Cup games with Setanta, and the Scottish Premier League have more significant problems, however, even though their agreements have been front-loaded in terms of cash being paid in advance.

Under a pre-arranged deal, ITV would take over the rights to up to eight England away friendlies for a pre-agreed sum.

The FA Cup would provide more problems but it is understood the FA would approach ITV in the first instance to see if they want to take over any live games. If ITV were not interested, they would approach other broadcasters - both terrestrial and subscription services.

Scottish Football Association chief executive Gordon Smith admitted he was concerned about the situation.

Setanta failed to pay the final instalment of this season's TV deal last week, leaving the SPL to dip into their own coffers to distribute around £3million, the amount due, to their 12 member clubs.

In April, the SPL clubs agreed to Setanta's request to change the terms of the contract due to begin at the start of the 2010-11 season, which was initially worth $250million.

Smith said: "We don't really know what is going on, it is an SPL broadcasting deal but obviously it is a concern if there is a problem for the league."