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Portsmouth Issued With Winding Up Order: Premier League Club Could Go Out Of Business

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Portsmouth have been issued with a winding-up petition by HM Revenue & Customs.

The cash-strapped club have endured a miserable season on and off the field this term with Pompey sitting rock bottom of the table and having a transfer embargo placed on them due to their financial problems.

Players and staff have seen their wages delayed twice already this year as Pompey look to pay off the debts hanging over the club.

Portsmouth are believed to owe over £10million in fees to other English clubs and it has been suggested they will have to sell more of their stars to pay off the debt.

The news that a winding-up petition has been issued will raise doubts over the long-term future of the club as they try to find the funds to keep Pompey running. (Sky Sports)

Just when you would have thought it couldn’t get any worse for the south coast struggler’s they are now in very real danger of being wound up. Having sold a wealth of talent in the past year Portsmouth under new boss Avram Grant are bottom of the Premier League and if they go into administration they would incur a ten point penalty that would surely mean curtains for the Fratton Park outfit.

The club has debts running into the countless millions and the likes of Tottenham and Watford still awaiting fees for players purchased by the cash strapped club.

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