The Carisbrook Stadium Trust is under a deadline of Tuesday to show the Otago Regional Council it has found a capital contribution of $15 million for the project by today.
Otherwise, the council could withdraw its support for the $200 million project in Dunedin.
A new stadium cannot proceed without a contribution of $37.5 million to the project.
The council previously resolved that its support will be void if the $15 million is not arranged.
Council members are due to meet at 10.30am.