You may have difficulty freezing the action and isolating the subject, but that doesn't mean you can't get some interesting shots: with a little planning and a little luck, you could use the longer shutter speeds to your advantage and get some great panning shots.
Also, keep in mind that action blur is due to the subject's change in position, relative to your camera, while the shutter is open. If you're standing at midfield and trying to take a picture of a player running past you at full speed: they will move a lot, relative to you, in a very short time. On the other hand, if you stand at one baseline, zoom all the way in, and take a picture of a player moving at full speed on the other baseline, but they are running directly towards you (like a defensive player trailing the play after clearing the ball), there will be very little movement relative to the camera, so the player may still be sharp.
Finally, the smaller sensor and corresponding wider focal lengths of P&S cameras gives you a much wider depth of field [be sure to read the linked questions to that question, too] than DSLRs can get. You can use that to your advantage by getting a little farther away from the action and trying to fit the whole field into the picture. Instead of trying to lock in on a single player, show the whole field: get artistic pictures like one goalie standing alone while 21 players congregate by the other goal.