Portsmouth go into administration for the second time in three seasons Portsmouth received their parachute payment early from the Premier League and are understood to have around £2.5m remaining in their account, which the administrator will be in charge of spending. Players and staff wages were not paid for January and Hong Kong-based businessman Balram Chainrai is owed £17m by the club. Any new owner will have to provide £12m as proof of funds, and be expected to meet around £20m in repayments to former owners Chainrai and Alexandre Gaydamak.