Pompey would be no more, living on only in memory. But, far from them sinking without trace, the south coast side's swansong would be to have a significant bearing on every single aspect of this season's final Premier League standings.
This would obviously be a disaster but would have a varied effect on every team and reactions will no doubt differ depending on circumstances.
At the time of writing, West Ham lie four points above the relegation zone but would slide towards the bottom three if Portsmouth meet their maker. With this in mind, Hammers owner David Gold has offered the club a financial lifeline in a bid to keep his own side unaffected, claiming he wants to see the struggling side "down, but not bust."
You would imagine that most of the other teams battling the drop would agree with Mr Gold. Some teams at the top end, however, may not be so sympathetic to the cause.
In the event of club closure, Manchester United would have to hand back the 6 points won against Pompey, not to mention a goal difference of eight.
And that's a mouth-watering prospect for rivals Chelsea. The league leaders would only lose three points and a goal difference of one and - even though it would leave them one less fixture - it would all but hand the Blues the title.
With such an opportunity to break the Red Devil's three-year grasp on the Premier League trophy, you can hardly see Chelsea shedding a tear for Pompey.
Then there's the tightly contested fight for fourth spot and Liverpool, after a season dogged by doubts and dirt, will be on tenterhooks as Pompey's demise would see their three rivals fall down around them.
Man City currently lie fourth but would lose six points along with Aston Villa. Spurs would lose three but Liverpool, who registered a 2-0 loss at Fratton Park in December, would merely improve their goal difference, leaving them well in the driving seat for a Champions League place.
The best Portsmouth can hope for is relegation to the Championship. It is a shame that, so early in the season, they have become a statistical playtoy as the press accumulate and speculate at their expense.
Worse still, if West Ham continue their good form - they have lost only one of their last six in the league - then David Gold's kind offer may be swiped from the table and, regardless what anyone stands to lose or gain from the situation, if Portsmouth fold before the end of the season they would leave behind a horrible, horrible mess.
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