Premier League turns down Portsmouth Football Club's request to sell players outside of transfer window

Portsmouth, who are reportedly £60million in debt and facing a winding-up petition from HM Revenue and Customs in the High Court early next month, had asked for permission to cash in on stars in a bid to stay afloat financially.

Stars like Nadir Belhadj, Kevin Prince-Boateng and Marc Wilson had all been tipped as possible departures as the cash-strapped club looks for ways to stay afloat.

A High Court judge said earlier this month "there is a very real risk" Portsmouth City Football Club Ltd is trading insolvent.

Registrar Christine Derrett gave the company a week to prove it does have enough cash to still be a going concern, and a Statement of Affairs was delivered to the court on Wednesday.

But as well as the £11.5m tax bill, Pompey also need to find £4m just to pay players and staff again this month - something it has already failed to do four times this season.

But the Premier League this morning confirmed they will not sanction the club selling players outside of the transfer window.

A Premier League statement read: "The Premier League board can confirm they have been actively considering a request from Portsmouth to transfer players outside of the Transfer Window.

"We are grateful for positive assistance from FIFA and the FA but, having given the matter further consideration and taking into account all factors, the Premier League board have decided that this would not be an appropriate course of action at this time."

Manager Avram Grant did not like the thought of his already threadbare squad being further depleted, but accepted it is a financial fact of life for Pompey, who take on Stoke in the Barclays Premier League this evening.

He said: ''I don't even want to talk about this because I came to this club to do something.

''But every week, or every day sometimes, there is a new thing and I don't know whether these things are sad or funny sometimes.