The Football League face a challenge to avoid a repeat of their members’ demise, according to Kenny Jackett.
Bolton and Bury are today fighting to remain in existence after being plunged into disarray by financial mismanagement.
Bolton are on the brink of liquidation after their proposed takeover collapsed, with their administrators stating the club could be closed down on Wednesday.
Bury are enduring a similar plight and have been given a 5pm deadline today to complete a sale or face being expelled from the league.
Both clubs have the sympathies of Jackett but the Pompey boss feels finding a way to eradicate such issues is fraught with challenges.
Jackett said: ‘It’s difficult. Very difficult.
‘There’s proof of funds but only so far you can go to police people who are running clubs.
‘It’s their money and their club so it’s hard to implement a structure to it.
‘In the States they have a different type of system and it's more regulated.
‘There is some financial fair play creeping in now.
‘League Two has been stringent for a number of years.
‘Since Birmingham got docked points the Championship has been readjusting slightly.
‘But right the way through the EFL there’s a situation which has developed where clubs are spending too much and getting caught.
‘Then ultimately it’s them who suffer.
‘There’s been threats for a number of years and QPR got caught out.
‘But they’ve got through it and moved on the contracts they needed to get in line.
‘The bottleneck is in the Championship, though, where the losses are very high.’
Jackett noted how the two club’s descent into financial meltdown has happened in very different ways.
With Pompey due to face both sides next month there could be a knock-on effect for his team, but Jackett doesn’t accept it’s an issue for them.
He added: ‘It’s a shame for them both. People won’t want them out of business so there will need to be good cause. You really don’t clubs like that wound up.
‘We played Bury last season and they were absolutely flying.
‘I know we beat them but watching their previous games and going there you could see they were a very, very buoyant team.
‘It seems now that half their team are playing for Plymouth!
‘Bolton have been established for year and years as a prem club and they’ve crashed. It’s a tough one.
‘They’ve got to prove they can come through it. If they can they’ll get the time, so hopefully they both make it
‘It does show you what can happen, but Pompey know that as much as anyone.
‘You can go into administration and not have the funds to run it.
‘How does if affect the league? That’s a big thing for me.
‘It’s going to make it different if the games are cancelled, but it will be no excuse for us because you should be able to adapt.’