Portsmouth, who would have faced a winding-up application by the taxman next week, applied to go into administration and this was approved by the High Court today.
The club now drop to 21st place in the npower Championship - out of the relegation zone on goal difference alone.
The Football League said in a statement: "Portsmouth Football Club have been deducted 10 points in accordance with Football League rules and regulations.
"This sporting sanction has been implemented with immediate effect, following formal confirmation that the club is in administration. Portsmouth have seven days in which to appeal.
"The Football League will now begin dialogue with the administrator aimed at achieving a successful sale of the club and its continuation in league football."
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