31 Dec 2009

Portsmouth could face bankruptcy

9:00 am on 31 December 2009

Portsmouth could become the first English football Premier League club to be declared bankrupt after being given a deadline to clear its debts by British revenue officials.

Court details state HM Revenue and Customs filed a winding-up petition against Portsmouth at London's High Court on December 23, but a full hearing will not be held until February 10.

If HM Revenue and Customs hasn't recovered its money from Portsmouth by then, the club could be declared bankrupt and a receiver appointed.

But Portsmouth is disputing the amount it owes in taxation debt and expects "HMRC to withdraw their demands forthwith."

The Premier League's bottom club sys it hasn't been formally served with a winding-up petition and is shocked and surprised the action has been taken.