The graph below shows the reported profit of Portsmouth.
From 2004 through to 2006 the club made small profits. Prior to, and subsequent to, that period the club has consistently lost money. Over the whole period shown below the club has lost over £35m. So a loss, on average, of more than £4m a season.
The club cannot continue to survive like that, and its dependence on the loans form who ever the present owner happens to be, has to be a long term concern.