You can't go down the road of the worst example to make your point, for every Portsmouth there is a Swansea or a Palace or even a Leeds/Unwashed who all sit currently above us having had worse times than us in recent years. We may have not gone to the wall like some of the above but I think you can only stick Portsmouth and Coventry as clubs in a worse league position than we are having changed owners etc. Leeds may be going down that road again granted but at this moment in time they sit above us and I don't believe they will actually go down.
We are in an awful position having previously been on the verge of security and the promised land. Even following relegation from the Premiership we should have been in a similar position to a Burnley or West Brom. Both have bounced around the top 2 divisions but are substantially more successful than we have been. Lets be fair if we finish below 7th we will have been on a downward spiral for 8 seasons with only one noteable exception, Blackwells first season (Pinchy now has seizure but what the hell). There have been bad decisions within bad decisions as well. Sacking Blackwell and having no plan B having let him spend the transfer money. Letting Blackwell lash out on Evans and Henderson at ridiculous fees and wages. Sacking Wilson without having a plan B, then comounding it by putting a man with no experience in for the play offs?!?!? Hiring Robson without first setting a limit for what you would let him spend. Letting Robson hire washed up hasbeens like Hendry, then putting Gillespie on 5 times what he was on previously. Letting Warnock spend £2m on Akinbiyi and £1.25m Horsefield. All these are the sanctions of a madman. People said this at the time by the way, its not a hindsight judgement.
Then theres Brazil, Belgium, China, Australia, Hungary and crap knows whatever other ventures we ploughed money into to "cement the global brand". FFS We are Sheffield United, not Liverpool, Chelsea or Man United. Not many people know who we are let alone what sport we play.
If I had the time and the energy I could catalogue the absolute car crash of McCabe post 2006. It is up there with the worse chairmen of any club. Could it have been any worse? Yes it could but not much worse had we put a bunch of primary school kids in charge of decision making. We could be in the position Portsmouth find themselves in, but and more likely we could be up with Southampton, Forest, Derby, Norwich City, Ipswich, Middlesborough and a clutch of other clubs with similar supporter bases who are all batting at a much higher level than we are.