Setanta's imminent collapse will not lead to a 'doomsday' scenario for SPL clubs according to SFA acting president Campbell Ogilvie.

The Irish television company had struck a £130million deal with the SPL over the next five years but that is now in major doubt.

On Wednesday, rival broadcaster BSkyB rejected the chance to give Setanta a £50million lifeline but Hearts managing director Ogilvie insists now is not the time to press the panic button.

He said: "I sincerely hope clubs do not go out of business but anything is a possibility.

"It comes back to trying to operate with what you have left. We have to accept that people and companies are affected by it, so there will be some impact on the game.

"I hate to hear the word 'doomsday'. Whenever there is a downturn, whether it is Setanta, corporate hospitality or season ticket sales, we have to operate with what we've got. I think Scottish football is in a position to survive it."