Is Setanta Sports mad?

Setanta Sports, the Irish sport TV company, says they are going to launch a stand-alone Top-Up TV channel which will show some Premiership and Scottish football matches, PGA Tour Golf and selected other "exclusive " sports.
Trevor East, the director of sport at Setanta, noted, Our research indicates there is substantial demand for a competitively priced premium sports service among Freeview homes.
Think you've heard this before? Even the company's logos are similar to the ITV Sport Channel!
Aside from the fact the Top-Up TV has almost no customers, no bandwidth and that almost all Freeview set-top boxes have no card slot, do you think that Setanta Sports will succeed when anyone who could ever conceive of having a premium sports channel will have Sky?