Terry Serepisos will always be remembered as the man who saved professional football in New Zealand. The arrival of Wellington Phoenix in 2007 marked the beginning of football's recent rise to prominence.
In coming to the sport's rescue in the wake of the failed New Zealand Knights, Terry set in motion a chain reaction of events which have thrust football back onto centre stage.
Without him, would over half a million people have passed through the turnstiles at the Ring of Fire?
Would David Beckham and LA Galaxy have entertained the thought of a visit to our shores?
And would the All Whites have even got close to playing in a World Cup, let alone provided us with the indelible memories of that wonderful November night in 2009?
The answer to all of these questions is no. Football's time in the spotlight can be directly traced back to the day Terry sat in his barber's chair, heard a radio report about the demise of the Knights and decided to do something about it.
But now, the landscape is very different. A week rarely goes by without a story somewhere painting Terry's financial situation in a parlous state. The latest concerns a court order freezing the bank accounts of Western Gulf Advisory, owned by Bahraini businessman Ashan Ali Syed, from who Terry had reportedly secured a loan of 100 million dollars to help restructure his property empire.
Grave concerns have been held over the validity of the loan since Terry announced in February that he was "well advanced" in negotiations with Syed. He's remained steadfast in his belief that the loan would materialise, even as disturbing stories came to light about others who had been promised loans by Syed, paid deposits, but never seen a cent of the loan, or the return of their upfront sum.
This latest news of the frozen accounts, coupled with a number of allegedly scammed Australian businesses uniting in a legal bid to get their money back, seems to provide stark proof that Syed will not be a white knight.
So, what next then for Terry Serepisos and Wellington Phoenix? Is it time for the football club to seriously start thinking about life beyond their founder?
Of course, there's no guarantee another owner, or a consortium of owners, would be found. Though there have long been rumours of individuals ready to "step in", no-one has publicly stated they'd have the desire and the means to take the club over.
But the Phoenix brand is a strong one, certainly much stronger than its predecessors on the professional football scene in New Zealand. The FFA wants to retain a New Zealand franchise in the A-League and New Zealand Football, Wellington City Council and Westpac Stadium all have vested - if slightly different - interests in the continued existence of the club.
Some would suggest the best thing Terry could do is voluntarily give up control and concentrate his energies on steering his business empire through these murky waters. He could take an honorary position on the board of the club and forever be seen as the founder and figurehead. The fans would always adore him.
This would allow other potential investors, some of who might be reluctant to partner with Terry, to devise a new ownership model which would allow Phoenix to move forward with a higher degree of certainty.
But this scenario is unlikely to happen because Terry loves the football club too much. Football writer Michael Cockerill from the Sydney Morning Herald summed it up best in a radio interview when he said, "If Terry Serepisos had ten dollars left, he'd spend nine dollars on the Phoenix".
But nine dollars isn't enough. Passion is one thing, but being able to continually bankroll the source of that passion is entirely another.
The bottom line is this club is in a state of great uncertainty. Against the current backdrop, it's impossible to plan for the future, attract new players and market the team ahead of what's shaping as the most competitive A-League season yet.
Other clubs are well down the track with their recruitment. Perth Glory has 22 players signed and training together in earnest. The Phoenix has just fourteen and only one coach.
It's all very well to point to the long off-season and the fact there's months yet before the new campaign begins, but players need time to gel with one another and making signings close to deadline just to make up mandatory squad numbers has proven to be all ill-fated strategy in the past.
The club is truly at a crossroads. With the ability to invest, the club can and should continue to grow. Without it, the way forward is far less clear.
My sincere hope is that Terry finds the means to not only continue to finance Wellington Phoenix, but also his business interests. There'd be nothing better than to see him rise from these significant setbacks and become profitable and successful again.
But if that's not to happen - and we need to prepare ourselves for the possibility that it might not - a contingency is needed.
Wellington Phoenix Football Club simply cannot be allowed to die.
