English football club Portsmouth, who are currently sitting in the relegation zone, may not be able to complete its fixtures this season as the club is facing a huge risk of shutting down due to bankruptcy following a huge debt.
The 2008 FA Cup winners' are unable to pay off their debts totaling a staggering £50million even after going into administration (bankruptcy protection) last month.
Trevor Birch, the club's temporary administrator, said that all of Pompey's funds received from the Premier League will go straight to Sacha Gaydamak (former owner), resulting in the financial meltdown of the club before the end of this season.
"We had previously stated that there was a real danger of the club running out of cash before the end of the season. The risk of this happening increases substantially without the money from the football authorities, the Daily Mail quoted Birch as saying.
"One potential issue appears to come from the assignment of £2.2m of parachute payments that was made by the old company to a previous owner. We have instructed lawyers to challenge this, but the process may take time," he added.
Birch said that "the only consolation" he could give Pompey's fans and staff was that they have still "not given up hope" but he feels that "the clock is ticking" for the 120-year-old club.
Meanwhile Pompey's shutdown will also affect the various clubs in the Power Championship especially West Ham, who will drop down to the third position, below Reading, from the second after losing six points, they received after beating Portsmouth.
Portsmouth, who play Middlesbrough at Fratton Park on Saturday, have already been forced to loan Norwegian striker Erik Huseklepp (their top scorer) to Birmingham to cut down their wage budget.