Portsmouth debts now £138M
Portsmouth's administrators have revealed the club's debts have blown out to £138 million.
It was initially disclosed in a report to creditors last month that the club were £120million in the red, but at the creditors' meeting on Thursday to discuss proposals at how they would be repaid, it has been revealed the debts have risen substantially.
The stricken South Coast club's creditors were invited to Fratton Park to approve the drafting of a debt-repayment plan that will enable Portsmouth to emerge from administration.
However, the full scale of their financial problems have been revealed to show the side are in even deeper trouble than first thought.