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Portsmouth have officially exited Administration, the Football League have confirmed.
The League have, surprisingly, imposed the previously announced 10 point penalty this season despite the club already being relegated. In past cases, penalties have been delayed until a club's fate has been determined but the League decides the outcome on a case-by-case basis. As a result of the penalty this term Pompey will finish last in League One.
Since entering Administration in February 2012 the club has seen every player in their first team squad depart, relying on youth teamers and players on month-to-month deals to compete this season.
They will announce a new management team on Monday for their first season in League Two since 1980.
