Portsmouth have become the first Premier League club in administration. We look at their meltdown
Timeline of Portsmouth's financial meltdown over the last year
Portsmouth officially went into administration on Friday.
The automatic nine-point penalty will virtually condemn them to relegation from the Premier League.
Pompey owner Balram Chainrai took the decision after talks with four interested groups failed to lead to a takeover of the club, which has £70million debts.
Pompey became the first Premier League club to go into administration and the nine-point penalty will leave them on just seven points, 16 behind their nearest rivals.
Here we look at Portsmouth's financial meltdown over the last year...
2009
May 27: Portsmouth accept takeover bid from Sulaiman Al Fahim.
July 21: Al Fahim passes Premier League's 'fit and proper persons' test and immediately joins Portsmouth board, although takeover is not yet finalised.
August 19: Club open negotiations with a consortium fronted by chief executive Peter Storrie over a possible takeover.
August 26: Al Fahim finally completes takeover.
October 1: Club admit failing to pay players' wages on time.
October 5: Al Fahim sells 90% of his Portsmouth shares to Ali Al Faraj.
October 7: Avram Grant appointed director of football.
October 28: Premier League issue embargo on Portsmouth registering new players until they pay off debts to Chelsea and Arsenal for the signings of Glen Johnson and Lassana Diarra respectively.
November 24: Manager Paul Hart sacked.
November 26: Club announce Avram Grant will be their next manager.
December 3: Portsmouth confirm payment of players' wages has again been delayed.
December 4: Club announce players have been paid.
December 5: Grant earns his first points with a 2-0 win over Burnley at Fratton Park.
December 10: Portsmouth respond to speculation over their future by insisting they are not about to go into administration. In a statement they also reveal Her Majesty's Revenue and Customs (HMRC) had been paid £2million and "other historical arrears are being dealt with on an ongoing basis".
December 30: The club deny being formally served with a winding-up petition by HMRC.
December 31: For the third time this season, the players' salaries are not paid on time. The club say the December salaries will be paid on January 5 thanks to a short-term loan.
2010
January 4: Non-playing staff are paid.
January 5: Player payments are again delayed, the club tell the Professional Footballers Association, adding that wages should be processed on January 6.
January 7: Portsmouth's players are paid their December wages.
January 14: Premier League board confirm they will distribute broadcast fee payments directly to Portsmouth's football creditors, both domestic and overseas.
January 19: Portsmouth's application for a winding-up petition made against them by HMRC to be struck out is dismissed by a High Court judge. The club nevertheless releases a statement insisting they are "confident" of winning an appeal.
January 20: The club confirm former player Sol Campbell is suing them for fees and bonuses he is owed.
January 26: Premier League lift transfer embargo.
January 27: Portsmouth sell defender Mike Williamson to Newcastle for an undisclosed fee.
January 28: Official club website is briefly shut down due to failure to maintain payments to Juicy, the company responsible for running
www.portsmouthfc.co.uk.
January 29: Club waiting for Younes Kaboul's £5million transfer to Tottenham to go through, and funds to clear, before they can pay the monthly wage bill.
January 30: Kaboul joins Tottenham.
February 3: Portsmouth pay January wages.
February 4: Hong Kong businessman Balram Chainrai's company Portpin take controlling interest in the club from Al Faraj after exercising a clause in their agreement over a £17million loan made to the Saudi.
February 9: Portsmouth fail to agree a deal with HMRC to pay a portion of their outstanding tax bill and reschedule the remainder.
February 10: High Court give the club one week to draw up a statement of its financial affairs as it bids to avoid the HMRC winding-up order.
February 17: Portsmouth present statement of financial affairs at High Court.
February 18: The club confirm they have asked the Premier League for permission to sell players outside the transfer window.
February 20: Bid to trade outside the transfer window rejected by the Premier League.
February 21: Chief executive Peter Storrie reveals a South African consortium is pursuing a deal to buy the cash-strapped club.
February 22: Former owner Sulaiman al Fahim quits as non-executive chairman at Fratton Park and passes on his 10 per cent shareholding to the club's supporters' trust.
February 23: Chainrai confirms Portsmouth will go into administration if they have not found a new buyer by February 26. Earlier, New Zealand-based businessman Victor Cattermole admitted his interest in buying Portsmouth, but said a deal would not be in place before the club's date at the High Court on March 1.
February 25: The club's owner's spokesman confirms Pompey has started the process of going into administration.
Portsmouth relegated from Championship 2010/11 4/1
