Portsmouth Challenge Rules?

[Gratland]

Hi I've heard about the Portsmouth challenge, but I'm unsure as to the actual rules of it. Sorry if this has been posted somewhere else but I've had a look around and can't seem to find it anywhere.
I was under the impression it was something like put them in £300 million debt and put them in league 1? Am I on the right lines?

 

[Max]

Never heard of it before

 

[Will1981]

There is a hull challenge and an arsenal challenge but no portsmouth challenge i have heard of mate

 

[Pompey_Dan]

...and a challenge of the month, but it isn't about Portsmouth.