Problem is the club essentially mortgaged it's future by buying top players and paying high end wages using loans offset against future revenue (based on gates from the "new" ground and tv).
This is unsustainable, just think how on earth do you pay wages of £80k (Crouch) and £100k (Diarra), amongst others, when you don't get gates much higher than 20,000?
Look below the FA Cup victory and 7th place finish and Gaydamak's tenure as owner/chairman was a farce. The new owners don't want to pump huge sums into a hole in the ground for no return and I don't blame them.
I wish I could say I see it all turning around in the near future, but I don't. Rumour has it that the inland Revenue have served the club with a winding up petition. If we do go into administration then one wonders how we'll sell the club when Newcastle and Liverpool can't find buyers in an unstable market.
Come on... Pay up Pompey! :'(