PORTSMOUTH need £14m keep going until the end of April, it was revealed in court today.
HMRC have said they have serious concerns about the club's administration.
According to lawyers, HMRC is concerned about the independence of the administrator, Andrew Andronikou, who was appointed by the club last week.
The taxman is also demanding to see records of all financial transactions between Balram Chainrai and Portsmouth City Football Club Ltd.
They also revealed that the club needs £7m to make it through to the end of March and a further £7m to be able to operate throughout April.
The HMRC's lawyers added that Portsmouth FC are 'shrouded in mystery' and it is not convinced that administration is the correct course of action.
The administrator has said he plans to sell Fratton Park to Balram Chainrai, who claims he is oweed £13.5m by the club.
The dilapidated ground would then be leased back to Pompey for £1.2m a year.
Thre is confusion as to whether or not Mr Chainrai lent money to PCFC Ltd or to the owners of Falcondrone, the company previous owner Ali Al Faraj used to buy the club.
If this was found to be the case, the validity of administration would be called into question.
The playing squad was recently valued at £21m according to HMRC, but that was last week increased to £38m by Peter Storrie.
This means Mr Storrie belives he could raise that amount, should the club be allowed to sell players now, or make it to the transfer window in July.
The £17, discrepancy has raised some eyebrows at the Revenue.
Mr Justice Norris demanded evidence of all transactions between Mr Chainrai and the club to be submitted by March 12, prior to another hearing three days later
Meanwhile, the Premier League said it would wait to hear the outcome of today's High Court hearing before going ahead with a meeting to discuss Portsmouth's proposed nine point punishment.
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