Sad EPL first for Portsmouth

London - Portsmouth will become the first English Premier League club to go into financial administration on Friday.

Andrew Andronikou of accountancy firm UHY Hacker Young told The Associated Press on Thursday that "we made a conscious decision to put it into administration tomorrow morning."

Four undisclosed buyers failed to prove they had the funds to buy the club by a Thursday 15:30GMT deadline set by Andronikou.

Pompey, which is bottom of the world's richest league, will be docked nine points as a result of entering financial administration, which is a form of bankruptcy protection.

Andronikou, who will act as the administrator, will issue a detailed statement on Friday outlining how the club will be restructured and made attractive for a potential buyer.