And alco:
No. Prior to Milandric and Gaydemak, there were several plans in motion to relocate Pompey, all of which were quite feasible and in that measure, attracted the investment from these wealthy backers. Obviously the plan was to exploit Portsmouth's very partisan supporters, with the possibility of PL status and 35-40k for home games entirely possible. They got Redknapp back, won a trophy within two years and were in the final again and Europe. All they needed for the return on this was a full 35-40k stadium, from a supporter footprint that extends out to the southern districts of Southampton, across Hampshire to Winchester, across to Petersfield and eastwards to Chichester, and south to the Isle of Wight as well. That is a bigger area than the greater district of Sheffield, with one PL team (as was then) playing in it. There was some sense in this investment and some motion in building the new Fratton Park, ideally out on the major east/west/north motorway intersection, which has excellent nearby rail links as well both from Pompey and inwards from London and the West.
But Canada Geese, the environmental lobby and eventually the council had other ideas ...
pommpey
..which is all well and good, but before any of these plans were in any way concrete, Ol' Twitchy was signing anyone he could get his hands on for 100k a week (or whatever ludicrous sums they were) saying "the chairman does all the deals guv, naffink to do wiv me" (a similar excuse heard at Southampton and now QPR though the Club's been extremely fortunate to go up this year). It wasn't like he'd grabbed a team of Championship players by their bootstraps, he'd signed some ridiculous players on ridiculous wages for a team the then-size that Portsmouth were. It was madness for them to gamble like that.