On this day in 2010, Pompey became the first Premier League club to go into administration.
Back in February 2010, the Blues were placed under a fresh transfer embargo as they descended into meltdown.
The club went into administration and were deducted the nine points, which all but condemned them to the Championship.
And in a further sign of the chaos engulfing Fratton Park was that the Blues missed further scheduled player payments.
That forced the Premier League to act and place the restraint on players coming into the club.
Dusko Tosic had been lined up to arrive on a free transfer after being released by Werder Bremen.
But the Serbian defender could not be registered in the Premier League.
Tosic was an unused sub in the FA Cup fifth round win over Southampton.
That paved the way for fears Pompey could face repercussions, but The News confirmed he was eligible for the competition.
Pompey awere in a total debt of £66m as they went in administration today.
Football creditors accounted for £16m of that figure, which included payments to clubs for outstanding transfer fees as well as monies owed to agents.
They fell into the category of secure creditors, which meant that amount had to be paid in full.
Pompey had already approached the Premier League about ways of receiving support earlier in the week.
Balram Chainrai made a last-ditch effort for help, but the league’s hands are tied as they maintain a level playing field for all clubs.
Pompey had already found themselves under one transfer embargo during the 2009-10 season.
That took effect on October 15, 2009, with the club saying it would remain in place for no longer than a week.
It stayed in effect for 115 days though until January 26, when it was partially lifted for loan and free signings only.
Avram Grant admitted his pain at seeing the harsh realities of Pompey’s plight bite.
Grant cut a dignified figure throughout his tenure as manager, and won supporter’s hearts with the passion he had shown for the club.
He said: ‘We did a football job and every step we couldn’t do our job. I am very sad for me and for everybody.’