Portsmouth Football Club (PFC) has announced that parent group Convers Sports Initiative (CSI) has gone into administration, with Vladimir Antonov resigning as chair and director.

The npower Championship club said its operating company was not in administration and is continuing to trade as normal, but will require fresh investment on a long-term basis.

CSI took over ownership of PFC in July this year from Balram Chainrai, Levi Kushnir and Deepak Chainrai, who rescued the club from administration more than a year ago.

PFC could now face a 10-point deduction, with Southampton Football Club given a similar penalty when its holding company went into administration two years ago.

Meanwhile, fellow npower Championship club Bristol City has reported a loss of more than £11m for the year ending 31 May 2011, compared with an £11.8m loss in the previous year.

Club chair Colin Sexstone said "fixed-term contracts for players ensure there is no quick or easy solution" to cutting costs and growing income, while delays to a planned new stadium had also proved "expensive".

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