Premier League to act on Pompey

Published Feb. 26, 2010 7:40 a.m. ET

It has been confirmed that the financially stricken club, who have debts of around £70million, have gone into administration and they will therefore incur a nine-point penalty. The sanction will effectively seal Pompey's relegation to the Championship with the points deduction set to be confirmed. "The Premier League can confirm it has received notice from Portsmouth FC that it has suffered an Event of Insolvency and entered administration," said a statement this afternoon. "The board will now convene to invoke its rules and policy in relation to this matter. "The board will also meet the administrator at the earliest opportunity to receive their views on the financial status of Portsmouth FC and set out the conditions for the club to fulfil its commitments for the remainder of the season. "We understand the need to act as swiftly and transparently as possible; however there is a process which means we can only provide comment at the appropriate junctures."