The English Premier League will keep more than £2 million ($4.5 million) Portsmouth raised from selling players during the January transfer window and hand it to clubs owed money by the club.
Portsmouth sold defender Younes Kaboul to Tottenham and goalkeeper Asmir Begovic to Stoke for a total of £8 million.
The club is reported to be about £60 million in debt.
Portsmouth is last in the Premier League and has failed on four occasions this season to pay its players on time. It is also subject to a liquidation order from the Government.
Soccer: Pompey's woes worsen
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