The Blues are a tantalising 90 minutes away from facing either Aston Villa or Chelsea in the May 15 Wembley showpiece.
Yet should they make the 2010 final, win or lose they will not be allowed entry into the Europa League.
Pompey have declined
to apply for a required Uefa club license for next year – a decision that has been confirmed by both the Premier League and FA.
It means, regardless of their FA Cup progress, they will not be let in.
The yearly Uefa club licence is designed to ensure clubs meet minimum standards in order to compete in their competitions.
Pompey had until March 1 to apply.
However, with the club in administration, it was not in a position to submit its accounts to meet criteria.
The news is a massive blow for Blues fans who were dreaming of a return to Europe and those priceless experiences in Guimaraes, Wolfsburg and against AC Milan.
That anticipation had been heightened following the emotional 2-0 victory over Birmingham at the weekend.
In accordance to Premier League and FA rules, should Chelsea or Villa be at Wembley having already qualified for Europe, the opposition would instead have the spot.
That would apply even to losing finalists.
Yet Avram Grant's men will not even get that opportunity.
Sepp Blatter introduced the regulations at the start of the 2004-05 campaign.
The club licensing system is based on a series of defined quality standards which must be fulfilled in order for a club to be admitted to any of the Uefa club competitions.
These minimum requirements include youth football development, coaching
standards, stadium and training facilities, audited accounts, settlement of debts and additional financial disclosures.
These were met by Pompey in order for them to compete in the Uefa Cup
for the first-ever time in the 2008-09 campaign.
Yet this time round, Pompey's precarious financial plight means they will struggle to satisfy the authorities. As a result, the licence was not applied for.
Meanwhile, The News understands it is highly unlikely the FA will throw Pompey out of this year's FA Cup.
According to competition rules, the place of an eligible club will be reassessed should it become the subject of an insolvency event.
By entering administration, the Blues meet criteria contained in section five, F(2) of the rule book.
The FA Council will then decide whether to accept the application and allow that club to continue to compete in the competition.
Technically, Pompey could be thrown out. However, that punishment would be unprecedented in the Football League.
Instead, it is believed the FA will allow Grant's side to continue and fulfil their semi-final fixture.
