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League Two: Portsmouth announce that club is free of debt

League Tow side Portsmouth have announced that it has cleared all it's debts since leaving administration last year.

Pompey have endured a turbulent few years, having been in the Premier League as recently as 2010, behind the scenes problems have led to the club dropping to the bottom tier of the football league, and two stints in administration.

But since the Pompey Supporters Trust bought the club and saved it from liquidation last year, they have managed to steer the club away from their long standing debts.

In statement on the club website, they stated; "Portsmouth Community Football Club would like to announce that all legacy debts taken on by the club as part of its exit from administration in April 2013 have now been fully settled."

"Everybody at the club has worked hard in reorganising our operations during the past 18 months and the legacy debts were a significant liability hanging over this ongoing process."

"We would like to thank all staff, supporters, directors and the PFA for their assistance in enabling this to be achieved well ahead of schedule." 

"PCFC can now fully focus its efforts on looking forwards instead of backwards, while still recognising that the rebuilding process will continue to be a difficult task in the years ahead."

"Our imminent move to a new training ground is a fundamental part of this work in putting in place foundations to enable the sustainable growth of all aspects of the club."

Portsmouth have made a good start to the season, and sit eighth in League Two, and will be hoping that with the last of their debts paid they can begin the long road back up the leagues.

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