Financially-crippled Portsmouth are to enter administration, with a club advisor confirming that an application to court is imminent.
Championship side prepare court application
Financially-crippled Portsmouth are to enter administration, with a club advisor confirming that an application to court is imminent.
Pompey's monetary troubles in recent times have been well documented, with the club set to be forced into administration for the second time in as many years.
The Championship outfit are facing a winding-up hearing over an unpaid tax bill and have been unable to pay their players and staff for January.
Drastic action is now set to be taken, with the club facing up to the prospect of incurring another 10-point penalty.
Peter Kubik, of the club's financial advisors UHY Hacker Young, said: "They are in the process of seeking an administration order - an application to court seeking administration is due to go in any day.
"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."
Crisis
Pompey were plunged into another financial crisis after their parent company, Convers Sports Initiatives (CSI), went into administration in November 2011. UHY Hacker Young are the administrators for CSI.
The tax bill is for between £1.2million and £900,000 but Kubik said there were many other outstanding bills to pay.
Among these, the club needs to pay their electricity supplier in order to avoid being cut off.
"There are lots of bills they need to pay," added Kubik.
In February 2010 Portsmouth became the first Premier League club to enter administration and were deducted nine points, condemning them to relegation.
A 10-point deduction from the Football League would put Pompey on 25 points, outside the relegation places on goal difference alone.
