PORTSMOUTH’S administrators have revealed in intricate detail how the club’s debts plunged to an incredible €137million.

Portsmouth administrator Andrew Andronikou insists the club will not rush into selling players despite today being given permission to do so by the Premier League.

Portsmouth received a much-needed boost today with the news the Premier League will allow the club to sell players immediately.

THE Premier League are set to confirm a nine-point deduction for Portsmouth later today as the club’s administrator yesterday revealed that talks with a takeover consortium have yet to lead to any proof of funds being produced.

The Premier League are set to confirm a nine-point deduction for Portsmouth tomorrow as the club’s administrator today revealed that talks with a takeover consortium have yet to lead to any proof of funds being produced.

Hong Kong businessman Balram Chainrai, who took control of Portsmouth after the club defaulted on loans from him, insists he will get his money back.

PORTSMOUTH administrator Andrew Andronikou insists it is business as usual at the club despite another legal hurdle being placed in their path.

A British High Court judge today ordered a hearing into whether the administration keeping Portsmouth afloat as a Premier League team was validly appointed.

PORTSMOUTH will officially go into administration this morning with the automatic nine-point penalty virtually ensuring relegation from the Premier League.

Portsmouth have begun the process of going into administration and this will be completed in the High Court tomorrow, a spokesman for owner Balram Chainrai has confirmed.

PORTSMOUTH chief executive Peter Storrie has admitted he has already begun talks with an administrator ahead of tomorrow’s deadline.

Portsmouth chief executive Peter Storrie has admitted he has already begun talks with an administrator ahead of Friday’s deadline.

Portsmouth owner Balram Chainrai has been told at a meeting with Premier League chiefs that they cannot bail out the financially-stricken club.

PORTSMOUTH are set to become the first Premier League club to go into administration after owner Balram Chainrai served notice of his intention to put the club into the hands of insolvency experts on Friday.

Portsmouth will go into administration on Friday unless a buyer comes forward before then, the club’s owner today announced.

PORTSMOUTH chief executive Peter Storrie is hopeful that a South African consortium will complete a deal to buy the cash-strapped south-coast club today.

Portsmouth have received a timely boost with the news that goalkeeper David James is set to waive his right to a new contract in a bid to help the financially-stricken club survive.

Portsmouth have a fourth owner within six months after a takeover by Hong Kong businessman Balram Chainrai was confirmed today – and the club could have a fifth before the season is out.

Portsmouth have a fourth owner of the season after a takeover by Hong Kong businessman Balram Chainrai was confirmed today – and the club could have a fifth before the year is out.

THE Gresham Hotels takeover saga finally reached its endgame yesterday as the company's major shareholder moved to accept an improved offer that valued the group at €117 million.