"Portsmouth" club avoided bankruptcy © EuroFootball.com

Club - saved. Although just yesterday it seemed that bankruptcy was the only possible way, on Saturday an agreement was reached with former owner Alexandre Gaydamak and a safe future was ensured.

Gaydamak initially disagreed with the terms of the deal proposed by the new owner, Balram Chainrai, but eventually changed his mind.

Portsmouth played in the English Premier League last season, but faced financial difficulties and dropped down to the second division in terms of strength.