LCC Broadcast News Room

Portsmouth will go into administration by Friday unless a buyer is found for the Premier League's bottom club.

The team will be docked nine points, but the winding up order against them due to be heard on 1 March will be suspended.

A spokesman for Pompey owner Balram Chainrai said: "There is now only a short window of opportunity for buyers to come in with a credible offer.

"Having the club wound up is not an option as far as we are concerned."

Portsmouth have debts of £70m, and the winding up order was over £7.5m owed to HM Revenue and Customs.