http://news.sky.com/skynews/Home/UK-News/Portsmouth-Football-Club-Adminstrators-Set-To-Close-It-Down-And-Liquidate-Club/Article/201010415768604?lpos=UK_News_Carousel_Region_1&lid=ARTICLE_15768604_Portsmouth_Football_Club:_Adminstrators_Set_To_Close_It_Down_And_Liquidate_Club

Administrators for Portsmouth FC are set to close down and liquidate the club.

The club has issued a statement saying it faced going out of business unless a deal with former owner and creditor Alexandre Gaydamak and prospective buyer Balram Chainrai can be struck.

But this has been described as "impossible" in the statement.

Portsmouth were delegated from the Barclays Premier League amid financial strife last season, during which they were docked nine points for falling into administration.

The club remains in administration.

It was revealed in April that Portsmouth owed a combined total of £38.2million to previous owners including Gaydamak and Sulaiman al Fahim, out of a total debt of £119million.

Thats a fcuken tragedy.

Got to feel sad for the fans.

What a disaster, Play up Pompey, here's hoping common sense will prevail from these leeches, I wonder if was the pwners that took out the loans on behalf of the club B*tds

Imagine my disappointment to find this only applies to the football club...

Could very easily have been us..

news is now ok for pompey