Vantis saves Portsmouth FC

Insolvency experts at Aim listed accountancy firm, Vantis, are compiling paperwork for Portsmouth FC following a court decision the football club had to produce a statement of affairs.

The court registrar Christine Derrett suspected Portsmouth are continuing to function even though it was insolvent and requested evidence to the contrary the Daily Telegraph reported.

Vantis began working on the document on Thursday but some experts fear it may already be too late.

The football club claims it may receive a cash injection from new owner Balram Chainrai or an associate before the next court appearance on 17 February