The Irish broadcaster set itself up as an alternative to Sky Sports by picking up the rights to some England internationals, Premier League games involving Wigan or Bolton and the Blue Square Premier.
At £9.99 per month, Setanta boasted that "if you love football, you'll at least be fairy excited by one or two of these games."
However, the schedule failed to wow the fans and, with the exception of pubs, just nine subscriptions had been bought by the end of the 2008-09 season.
"I stand by everything that we did," Setanta chief Roger Hall declared. "The problem is that you people [the general public] are stupid.
"We gave you Wigan-Everton at 5.15 on a Saturday afternoon, we gave you Conference games on Thursday and Friday nights.
"We had Setanta Sports News, it was just the same as Sky Sports News but everything was yellow and black and everyone was slightly uglier and stupider. What more do you want?"
ESPN have bought up Setanta's share of football for next year and have agreed a deal with Sky Sports that will allow paying subscribers to pay for the right to pay to watch games like Aston Villa-Fulham.