BBO ceased trading in October and is in debt by almost $180,000.
It is insolvent, but last month members voted to delay appointing a liquidator until February 10 to allow the Keep Basketball in Otago group an opportunity to raise funds.
The group had pinned its hopes on an online sales promotion where customers buy a photo at keepbasketballinotago.co.nz and in return get automatic entry into a draw to win a trip for two to Los Angeles to see New Zealand NBA player Steven Adams strut his stuff for the Oklahoma City Thunder.
However, spokeswoman Angela Ruske said sales had been slow and unless they picked up immediately the group would not have much to offer BBO's creditors.
''We have not had the community support which we thought we might get behind us at this point,'' Ruske said.
''As far as the raffle goes we are up to close to a thousand sales. We were aiming to get five to six thousand sales, so we've got seven to 10 days really to try to get in as much as we can.''
At $10 an entry, 1000 sales equates to $10,000, which is the same amount as the prize.
''We are not out of pocket. That has been covered. We've had Air New Zealand help in some way with some of the cost of that prize, so that has reduced the price.''
The pledge wall has been more successful, with $30,000 raised and Ruske said a group of people would door-knock businesses in the Dunedin area during ''the next few days'' to generate more pledges.
She also hopes a game between the Canterbury Rams and an Otago selection side planned for February 21 will raise up to $20,000.
That game comes after the deadline, though, and Ruske conceded the group was battling to beat the buzzer.
''If we don't get support in the next seven days then we definitely won't be on track. But if we get 5000 more sales ... then we'll get $50,000 plus $20,000 from the game as a guesstimate and $30,000 from the pledge wall brings us up to $100,000.''
Ruske said basketball in Otago had been slipping back since BBO ceased trading.
''We have lost the Nuggets, with a number of ex-Nugget players and promising representative players shifting to Canterbury.
''We are uncertain at this stage what structure is in place should BBO cease to exist. If we are able to save BBO then we can immediately draw on the experience and knowledge from current members who will be able to use an existing structure to get basketball in Otago back up to speed.
''While it is pleasing to know Sport Otago and Basketball New Zealand have pledged to ensure basketball in Otago will continue at the grassroots level ... the best possible outcome and fastest way to get basketball back on its feet in Dunedin is to keep BBO trading.''
