Football League clubs have voted to keep the current format of the Checkatrade Trophy.
But there will be several amendments in regards to the player criteria that teams can use.
Clubs were given the options to vote for:
1. Retaining the current format with amendments
2. Reverting to a 48-team knockout competition
3. Abandoning the competition altogether
Pompey voted for option two but 66.6 per cent of Football League teams voted to retain the current format.
A club statement said: ‘Portsmouth Football Club are disappointed with this outcome, but respect the result of this democratic process.’
The Blues failed to qualify from the group stages in the competition this season.
They were also fined £15,000 for not fielding at least five players who started the previous or next game, or five players who made the most appearances for the club.
Chief executive Mark Catlin said the club roughly broke even for their fixture against Reading under-23s at Fratton Park.
Only the South stand opened for home games in the tournament.
However, changes regarding the criteria of fielding five players (excluding goalkeepers), include those who:
- Have started the previous or following first-team fixture.
- Are in the top 10 players at the club for starting appearances in league and domestic cup competitions for the season.
- Have made 40 or more first-team appearances in their career;
- Are on loan from either a Premier League or Category One Academy club.
Each Football League team will receive a minimum of £20,000, with the winner awarded £100,000.