Chief executive Peter Storrie said the club had nowhere else to go if the Horsea Island scheme revealed yesterday falls through.
He said they needed total support from the city council or they would be forced to stay at Fratton Park forever.
Mr
Storrie also promised fans that the 36,000-seater stadium would be built on time and on budget.
'This has to happen, there's no other option', he said.
'This is our last roll of the dice.
'There is no other site available other than using the planning permission we already have at the existing ground.'
The club's ambitious plan for a stadium at the gateway to the city is the latest in a string of failed attempts to find a new home.
First came Farlington, then a redeveloped Fratton, while a £600m proposed stadium at The Hard was scuppered after navy security concerns.
Mr Storrie said it wasn't just councillors that needed to get behind the stadium but also the fans.
He said: 'I think it's about time the council fully supported the club – we have helped put the city on the map.
'Two hundred thousand people came out to support us when we won the FA Cup and now we want them to get behind this scheme and not put any obstacles in our way.
'They have been superb so far, I am just saying they need to get totally behind us if they want a state-of-the-art stadium.'
Pompey want to submit a planning application within the next six months in the hope of having the ground ready for the start of the 2011/12 season.
Mr Storrie said they would avoid the fiasco that happened with Wembley which was delayed and massively over budget.
'We're mindful of what happened with Wembley,' he said. But I've had experience of working on projects like this at West Ham where we built another two stands, and they came in on time and on budget.
'The stadium will be quite a quick build as the land is already flat so it shouldn't take too long.
'It's important for Pompey that we get a new stadium with better facilities for fans.
'We've brought the FA Cup back to the city but have the smallest stadium.'
Council leader Gerald Vernon-Jackson said: 'We will continue to work with the club to find a solution that will work for everybody.'
Also see: Pompey chime in with 'perfect' planMoving tens of thousands will be major challenge for transport rolePortsmouth FC unveil stunning stadium vision Concern over impact of new shoppingGrand vision of Pompey's futureNew Portsmouth FC stadium - Your thoughts.....
The full article contains 472 words and appears in The News newspaper.