Stricken Portsmouth FC have confirmed they have applied to the High Court to enter administration for the second time in two years.
The south coast club – which has been issued with a winding-up petition by HM Revenue and Customs – currently has debts of some £1.8m with the tax man.
In a statement the club announced the administration hearing will take place this Friday and the side will not enter the process until the court endorses the application and appoints an administrator.
If administration is confirmed the club will immediately suffer a 10-point penalty, thrusting the club into a relegation battle in the Championship.
The club’s accounts have also been frozen due to the winding-up petition meaning its players and staff were not paid for January.
Portsmouth have endured a tumultuous three months since parent company Convers Sports Intiaitives plc (CSI) entered administration in November.
Andrew Andronikou and Peter Kubik of UHY Hacker Young were appointed joint administrators for the company, but efforts to secure a sale have so far proved in vain.
The club – nicknamed Pompey – has blamed its current financial plight on its failure to sell collapsed parent company Convers Sports Initiatives plc (CSI).
Portsmouth claimed they were “given assurances” by the administrators and charge-holders the club would still be funded despite CSI’s administration – but they said this had not been the case.
Andronikou and Kubik are yet to return Insolvency Today’s calls.
In 2010 the club became the first Premier League side to enter administration, which swiftly led to the club’s relegation from the top flight.
By Andy Pearce
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