Portsmouth to enter administration for second year running

Embattled Championship club Portsmouth will be forced into administration for the second time in two years it has been announced.

Pompey’s current financial situation has forced them to seek an administration order which has been confirmed by Peter Kubik, of the club's financial advisors UHY Hacker Young.

"They are in the process of seeking an administration order - an application to court seeking administration is due to go in any day,” he told Press Association Sport.

"The club's bank accounts have been frozen due to the winding up hearing and they are finding it very difficult to trade. Once the administration order is in place the bank accounts will be made accessible again.

"We are aware that administration carries an automatic 10-point deduction by the Football League."

Portsmouth, who failed to pay their players and staff in January, are facing a winding-up hearing over an unpaid tax bill of around £1million and have a number of other bills to pay says Kubik.

"There are lots of bills they need to pay," he added.

Portsmouth became the first Premier League club to enter administration in February 2010 when they lost nine points which saw them relegated to the second division.

 
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