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Last week, Portsmouth FC became the first top-flight football club in England to go into voluntary administration as a result of their massive debts, currently estimated at £86 million. Over the season so far, they have repeatedly failed to pay wages on time, owe the Inland Revenue millions in unpaid taxes and VAT, have had to sell many of their players to get quick cash and – as a result – are lying firmly at the bottom of the Premier league table.  According to the Guardian (3/3/10) they need to find £14 million just to keep going until the end of April.