The Nuggets are battling to remain in the National Basketball League but are running out of time to secure the funding they require for the 2009 season.
Basketball Otago (BBO) chief executive Mark Rogers has said raising the funds in the current economic environment was a struggle and the board would meet in mid November to deliberate on the Nuggets' future.
"We would be very concerned if the Nuggets weren't involved [in the 2009 NBL] because it would leave quite a hole in our income," Lundy said when contacted for comment yesterday.
"It is a real concern for us and we're as anxious as anyone."
The Nuggets play up to nine home games at the venue each season and to miss out on the income from those fixtures would be a significant loss, he said.
The venue faced a similar problem when the Otago Rebels disbanded at the end of the 2007 season.
A new Otago-Southland combined team - the Steel - replaced the Rebels, but it is Invercargill-based and plays only two matches in Dunedin, compared to the three or four home matches the Rebels used to play.
However, Lundy said the Steel attracted larger crowds, which reduced the financial impact of losing the Rebels.
The Edgar Centre is a ticketdirect agent and makes a cut from the sales it generates.
"We've done OK in terms of replacing the income we got out of the Rebels. But, obviously, if the Nuggets go as well it is just another hole we need to try and fill somehow."
The Edgar Centre's $10.8 million extension, the Lion Foundation Arena, has been a huge asset for the city.
Since opening in February 2005, the venue has hosted two basketball internationals, a netball international and a Davis Cup tie.
But its core business is catering to local sport and Lundy said there was evidence the global economic downturn was having an affect.
"It is getting tougher and tougher for some organisations to remain viable. So I'm definitely worried about it.
"When times get tough, discretionary spending is one thing people can control. I'm aware of people who have pulled out of after school competitions because of the $2 [cost]. If you've got two or three kids at school it can add up."
The Otago Nuggets will meet its major naming sponsor, Cartridge World, today to discuss its involvement next season.
"I'm still quite keen to be involved with it [basketball] because of the way the sport has grown both locally and nationally," Cartridge World Dunedin director Graeme Cochrane said.
"I'd like to have a presence somehow, but as to what level of involvement we have we will work through those issues [today]."
