U.S. billionaire Len Blavatnik is offering $33 million in return for a 51% stake in the troubled Irish pay-tv channel Setanta. Access Industries, a private company owned by Blavatnik, said it had submitted a proposal to Setanta but gave no further details. In a statement, Access Industries said: “The Access proposal is subject to a number of preconditions being met. Access believes that this proposal would secure the future of the broadcaster for customers, football and employees.” Blavatnik hopes that – at the very least – his intervention will buy Setanta some time to get on better financial footing. Blavatnik is a Russian-American billionaire who made the bulk of his fortune from heavy industry. He is also involved in Top-Up TV, the pay TV company which offers extra channels on the Freeview platform.