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Ground sharing with Southampton will never be an option for either club. The "Solent United" idea has been raised many times but never come to anything. The level of hatred between the fans is far too great.
JC
If they win the FA Cup there might be decent bids for several of their players. That could slash their debt considerably, and then it depends how much money the new owner can invest.
They'll be a much weakened club but they could bounce back.
That is, of course, looking on the bright side.
BR
Sharing with Southampton makes sense financially - but what a big journey for 25,000 fans every game.......
Martha
A lot will depend on how the very large land-bank surrounding Fratton Park is utilised (currently car parks etc.)
This overall saga is partly precipitated by ownership and football difficulties/matters - but hinges on the acres of lucrative property in the background.
Ground sharing with Southampton is also a possibility.