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Portsmouth first Premier League team in administration
26 February 2010
Last updated at 11:56 GMT
The club has become the first Premier League team to into administration meaning a nine-point penalty and almost certain relegation.
Portsmouth FC has become the first Premier League club to go into administration following a failed takeover and a season of money problems. It means a nine-point deduction and almost certain relegation to the Championship.
Portsmouth has estimated debts of around £70 million and the club's had two managers this season, Avram Grant and former coach Paul Hart. A major sell-off of players is now likely and fans face the prospect of a long period of rebuilding.
The club has been suffering money problems all season. Players' wages weren't paid on time on three different occasions and fans protested outside their Fratton Park ground at the end of January after a winding-up order was made at the High Court.
The club's also had four owners this season including Ali Al Faraj, who took over last October. He was bought out earlier this month by Hong Kong businessman Balram Chainrai. The other two owners were Sulaiman Al Fahim and Alexandre Gaydamak.
Last Thursday Portsmouth asked the Premier League for permission to sell players outside the transfer window, but was rejected two days later. The club's current financial plight is a long way away from their FA Cup victory under Harry Redknapp in 2008.
Pompey have been in administration once before, in December 1998. That's when Milan Mandaric (left) bought the second tier club. Mandaric invested heavily in the team and it returned to the top flight in 2003 before spending heavily on players.
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