GUIDED by a ship of fools, we were told. But while Blackburn Rovers and Burnley attempt to live within their means and find their chances hopelessly restricted, Portsmouth can count four trips to Wembley, their first major trophy in 69 years and a UEFA Cup campaign that included the visit of AC Milan. Who exactly is getting the better deal here?

The Pompey fans deserve better than this, we have been informed for some time now. They deserve their club to remain in existence, and they deserve not to be kept in the dark. But beyond that?

Do Portsmouth and their supporters, for instance, deserve to be in an FA Cup semi final when the club still cannot pay its bills?

Was it right that they spent money they did not have on players, yet waited until four years after promotion to provide a roof for away fans at Fratton Park?

The reality is that, unless Pompey’s predicament becomes worse than mere relegation, it was all worth it.

Given the choice, would a Burnley fan turn down the extraordinary days Pompey have enjoyed in recent years – even if it meant a spell languishing in the lower leagues afterwards? Some might just accept that deal.

So are the prudent chairmen, like John Williams at Ewood Park and Barry Kilby at Turf Moor, the naive ones here? Why settle for a moral life of mid-table austerity when you can enjoy the high life – knowing you won’t have to pay off all of your debts anyway?

Supporters are often portrayed as the victims in all of this. But how many of those fans were, in fact, urging their club to spend more?

If Blackburn had bowed to fan pressure in January, they would have spent money they could not afford on Aruna Dindane.

If Burnley had bowed to fan pressure 12 months earlier, they would have spent money on players they did not need, since they achieved promotion anyway.

Managers play their part, too. Sam Allardyce resigned at Bolton because he did not secure extra transfer funds, yet can anyone be sure they would not have ended up like Portsmouth had they pushed the boat out a little further?

The ship of fools does not merely contain the few at the top. It contains us all, because we all exist in Peter Ridsdale’s goldfish bowl of English football – demanding quick thrills today rather than sustainability tomorrow.

Those who attempt to swim against the tide, like Williams and Kilby, are brave men indeed.

Sadly, when clubs like Portsmouth continue to prosper, they must wonder why they bother.