Championship club Portsmouth was tonight docked 10 points by league bosses after being placed in administration by the High Court for the second time in two years.
Portsmouth was penalised in line with Football League "rules and regulations" governing clubs in administration.
The sanction leaves Portsmouth just above the Championship relegation zone.
Earlier, a High Court judge had appointed a financial expert to manage Portsmouth's affairs after being told that the club owed millions and concluding that it was insolvent.
Mr Justice Norris said administration was a better option for creditors than liquidation and might allow Portsmouth to "stagger on" until a new owner could be found.
The judge was told of Portsmouth's "tortuous" recent history and how the club had an unpaid tax bill of around £2 million and owed other creditors about the same.
He said players and staff had not been paid in January and the club could not afford to pay for travel or policing and had outstanding electric and gas bills.
But outside court, accountant Trevor Birch, who was appointed to head the administration process, said he hoped a buyer could be found and urged fans to "keep the faith".
Portsmouth directors had earlier this week applied to go into administration and Mr Justice Norris today gave the go-ahead at a High Court hearing in London.
The club's parent company, Convers Sports Initiatives, went into administration in November, the court was told.
Two years ago, Portsmouth - which won the FA Cup under then manager Harry Redknapp in 2008 - became the first Premier League club to enter administration and subsequently dropped into soccer's second tier.
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