English Premier League club Portsmouth went into administration Friday . They are the first club to go into administration in Premier League history . Explainer : Portsmouth 's estimated debts estimated to total around $ 90 million . The team is owned by a group of investors led by former England and Arsenal player Eddie Davies, who has been trying for years to get his soccer franchise off the ground at their new stadium on the banks
English Premier League club Portsmouth went into administration Friday . They are the first club to go into administration in Premier League history . Portsmouth 's estimated debts estimated to total around $ 90 million . The team is owned by a group of investors led by former England and Arsenal player Eddie Davies, who has been trying for years to get his soccer franchise off the ground at their new stadium on the banks