Mon, May 28, 2012, 5:40 PM EDT - U.S. Markets closed for Memorial Day

Discover Yahoo! With Your Friends

Explore news, videos, and much more based on what your friends are reading and watching. Publish your own activity and retain full control.

To get started, first

YOUR FRIENDS' ACTIVITY

    Portsmouth enters bankruptcy protection again

    English soccer club Portsmouth penalized 10 points after entering bankruptcy protection

    Fantasy Finance

    LONDON (AP) -- The English soccer club Portsmouth has been deducted 10 points after entering bankruptcy protection for the second time in two years.

    The points deduction leaves the 2008 FA Cup winners above the relegation zone in England's second division on goal difference.

    Portsmouth's application to go into financial administration was approved at London's High Court on Friday after the team incurred debts of about 4 million pounds ($6 million).

    Portsmouth's parent company, Convers Sports Initiatives, went into administration — the British form of bankruptcy — in November.

     

    There are no comments yet

    RATES

    Stay in touch with Yahoo! Finance

      YAHOO! FINANCE ON TWITTER

    Subscribe

    [X]

    How to subscribe

    Roll over each section to subscribe using Add to My Yahoo! or RSS Feed feeds.

    Yahoo! News offers dozens of RSS feeds you can read in My Yahoo! or using third-party RSS news reader software. Click here to find out more about RSS and how you can use it with Yahoo! News.