It was billed as the grand daddy of all promotion parties. But bottom-of-the-table Sheffield Wednesday pooped the Fratton Park knees-up - thanks largely to Fareham-born goalkeeper Kevin Pressman.
Portsmouth should still clinch their place in the Premiership at home to Burnley tomorrow night but they will host the Lancashire outfit having been relegated to second place and with their championship credentials in real doubt after a calamitous last 15 minutes on Saturday.
A goal from Lee Bradbury was inevitable following the former Cowes Sports striker's recent spell on loan at Hillsborough.
Bradbury, 27, fired Pompey into a first-half lead after reacting first in the six-yard box when Pressman could only palm away a cross-shot from Svetoslav Todorov.
The script seemed to have been written for Bradbury at that point. After scoring three goals in 11 games for the Owls, it just had to be him who hammered another nail in the Yorkshire club's First Division coffin.
Bradbury had not played for Pompey since December 2001 before scoring in front of the home and away fans in the Milton End. But an inspired double substitution from Sheffield Wednesday boss Chris Turner turned the game in the visitors' favour.
Michael Reddy is used to losing - he is on loan from Sunderland - but he and rookie striker Grant Holt, a recent acquisition from Barrow, injected the pace that unsettled Pompey's back three.
Irishman Reddy instigated the move that led to Linvoy Primus's sliced clearance and Ashley Westwood's equaliser.
Westwood poked the ball goalwards after the ball had fallen into a packed Pompey penalty area. It travelled through a forest of legs and Primus couldn't stop it creeping over the goal line.
And, after Shaka Hislop had tipped over an Alan Quinn drive, Gianluca Festa rolled a free-kick straight to Reddy who ran unchallenged for 25 yards before sliding the ball underneath Hislop.
Pompey boss Redknapp was an angry man at the final whistle - Reddy had been within ten yards of the ball when he intercepted Festa's pass.
Redknapp said: "I've never seen a decision like that. Their fella should have been ten yards from the ball but he was only about a foot away.
"It was completely wrong, a scandalous decision, a big mistake and an absolute farce but that's how it goes.
"I'm obviously disappointed, I wanted to finish it today and get promoted but it was Sunday morning football from us for the first goal.
"People thought it was going to be easy, with plenty of singing and dancing but the players expected it to be tough, Wednesday are fighting for their lives at the bottom."
It would have been a different story if Pressman had not produced vital second-half blocks to deny former teammate Bradbury a second and Steve Stone a crucial goal.
Wednesday stalwart Pressman, whose family moved Fareham when he was six, said: "We expected Lee to do his best for Portsmouth - they employ him - but we're good at getting players into form - we did the same with Wolves' Adam Proudlock earlier this season!
"It was nice to make a contribution, saves can change matches, and our game plan worked well."
Bradbury, who had two efforts saved by Pressman after netting his goal, said: "It looked like it was all set up for me. The lads are really disappointed, everyone's gutted. I was hoping my goal would be the only one, everything was geared up for today."
Three of Wednesday's last four games are against fellow strugglers Grimsby, Brighton and Walsall.
Boss Chris Turner said: "I think we surprised Portsmouth. Everyone thought a win for them was a foregone conclusion. We shocked everybody and showed our inner strength."
Pompey have a fitness doubt over Kevin Harper (groin) for tomorrow night's visit from Burnley.
Portsmouth 1 - Sheffield Wednesday 2
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article