KEY POINTS:
Canterbury look doubtful to field a team in the National Basketball League this season because of money problems.
The debt-laden Canterbury Basketball Association (CBA) has given itself until Friday to find a sponsor to rescue the Rams.
The players have been told that their contracts are not likely to be honoured.
Canterbury is one of the foundation teams of the league.
CBA player and coach development manager Terry Brunel said resources were stretched too far with the Christchurch Sirens professional women's team possibly the last straw.
"We are carrying a lot of debts on other programmes through the association, including a loss (over $300,000) last year," he said.
"Taking on a team like the Christchurch Sirens has been a pretty serious money drain there, plus we lost our CEO (George Kazan) in August - financially it turned out to be pretty bleak."
The Sirens are part-owned by former Kathmandu owner Jan Cameron, while Basketball New Zealand (BBNZ) also has a stake, but the management of the team lies with the CBA.
The chance of the Rams finding a naming sponsor in the next four days was "very slim", Brunel said.
CBA president Peter Dwan said about $150,000 was needed to rescue the team for the March 1 season-start
"If we can't get some concrete commitment from some backers I'm afraid we will have to pull the pin," Dwan said.
Scenic Circle Hotels, which had completed its sponsorship of the team two years ago, had extended it a further year and it was a one-off, Dwan said.
BBNZ is expected to comment later.
- NZPA
