Pompey chairman Iain McInnes has thanked the Football League for deducting 10 points from the club in the current season, rather than carrying them over.
The 10-point deduction is one of the League’s sanctions against clubs which go into administration, and is applied as soon as a club finds a new owner.
Pompey was bought by the Pompey Supporters’ Trust yesterday, but there had been question marks over whether the points would be deducted this season or carried over to the next to be more of a punishment, with the Blues already relegated.
As it has been allocated in the current season, Pompey will be able to begin their first campaign as a wholly fan-owned club with a clean sheet in League Two.
And today also sees Pompey receive their ‘golden share’ again - which is effectively membership back into the Football League.
McInnes, the new chairman of Pompey, said: ‘We are grateful to the league for confirming this punishment will be activated in the current season.’
In addition to the deduction, the Football League will be scrutinising the club’s finances and restricting its budgets, borrowings and loan payments for the next five seasons.
Football League chairman, Greg Clarke, said: ‘I would like to welcome the Pompey Supporters’ Trust to The Football League and pay tribute to their efforts to save their club. They have galvanised the Club’s fans and the City of Portsmouth behind their cause and ensured that it continues to have a professional football club.
‘However, the hard work is only just beginning and we will continue working with the new owners to help them establish a sustainable future for Portsmouth Football Club, so that it can put its long running financial troubles behind it for good.
‘This has been an extremely challenging situation for The Football League, given the level of debt, the length of the administration and the issues surrounding the ownership of Fratton Park.
‘I take my hat off to everyone involved, as it has taken significant amounts of hard work, clear thinking and resolve to achieve this outcome.
‘Finally, I would like to pay tribute to Portsmouth supporters for giving their financial backing to the Trust’s rescue plan and for turning out in force throughout the administration as it has kept the club in business.
‘Hopefully, this marks the start of a better future.’