It is the second time in two years that the club has faced such financial difficulties.
The decision has moved Pompey down to 21st in the Championship table, just one place above the relegation zone on goal difference.
Trevor Birch was named as the club's new administrator on Friday.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Leeds UnitedLeeds | 17 | 10 | 5 | 2 | 31 | 12 | 19 | 35 |
| 2 | Sheffield UnitedSheff Utd | 17 | 11 | 4 | 2 | 24 | 9 | 15 | 35 |
| 3 | Burnley | 17 | 9 | 6 | 2 | 21 | 6 | 15 | 33 |
| 4 | Sunderland | 17 | 9 | 6 | 2 | 26 | 12 | 14 | 33 |
| 5 | Watford | 17 | 9 | 2 | 6 | 26 | 24 | 2 | 29 |
| 6 | Middlesbrough | 17 | 8 | 3 | 6 | 29 | 20 | 9 | 27 |
| 7 | West Bromwich AlbionWest Brom | 17 | 6 | 9 | 2 | 18 | 11 | 7 | 27 |
| 8 | Blackburn RoversBlackburn | 16 | 7 | 4 | 5 | 20 | 17 | 3 | 25 |
| 9 | Millwall | 16 | 6 | 6 | 4 | 19 | 14 | 5 | 24 |
| 10 | Norwich CityNorwich | 17 | 5 | 7 | 5 | 31 | 25 | 6 | 22 |
| 11 | Swansea CitySwansea | 17 | 6 | 4 | 7 | 16 | 15 | 1 | 22 |
| 12 | Bristol City | 17 | 5 | 7 | 5 | 20 | 21 | -1 | 22 |
| 13 | Sheffield WednesdaySheff Weds | 17 | 6 | 4 | 7 | 20 | 26 | -6 | 22 |
| 14 | Stoke CityStoke | 17 | 5 | 6 | 6 | 19 | 20 | -1 | 21 |
| 15 | Derby CountyDerby | 17 | 5 | 5 | 7 | 21 | 22 | -1 | 20 |
| 16 | Luton TownLuton | 17 | 5 | 3 | 9 | 18 | 29 | -11 | 18 |
| 17 | Coventry CityCoventry | 17 | 4 | 5 | 8 | 22 | 25 | -3 | 17 |
| 18 | Oxford UnitedOxford Utd | 17 | 4 | 5 | 8 | 19 | 27 | -8 | 17 |
| 19 | Preston North EndPreston | 17 | 3 | 8 | 6 | 16 | 24 | -8 | 17 |
| 20 | Plymouth ArgylePlymouth | 17 | 4 | 5 | 8 | 18 | 34 | -16 | 17 |
| 21 | Cardiff CityCardiff | 17 | 4 | 4 | 9 | 15 | 26 | -11 | 16 |
| 22 | Hull City | 17 | 3 | 6 | 8 | 16 | 23 | -7 | 15 |
| 23 | Queens Park RangersQPR | 17 | 2 | 8 | 7 | 15 | 26 | -11 | 14 |
| 24 | Portsmouth | 15 | 2 | 6 | 7 | 16 | 28 | -12 | 12 |
| > Championship Full Table | |||||||||
