Brimble, who resigned from the board earlier this year citing a need for a change at the top, believes the franchise is still viable and is hopeful BBO will show courage and continue to support the Nuggets.
The board met last week to consider whether it was financially viable to enter a team in the 2009 National Basketball League (NBL) and will make an announcement on the franchise's future at a meeting tonight.
Brimble, who is the chief executive at Sport Otago, believes shutting down the Nuggets would be a huge mistake.
"It removes the incentive and will destroy our club competition," he said, adding that getting back into the league would be a struggle.
"Personally, I think you lose a bit of momentum. It is always hard to start again and you run the risk of losing your funding base.
"That money is up for grabs from other potential users."
It also opens the door for Southland Basketball which has been eyeing up an NBL franchise, he said.
"I think they are a creditable proposition and more than capable of attracting players to the franchise. It would probably take a couple of years to bed in.
"But you have to give credit to Southland, they know how to put a winning team on the court. They've done it before in terms of netball and you've seen what they can do in terms of turning the Stags around."
The Nuggets have been in the league since 1990 but had a disastrous season this year. They lost all but two of their 18 games and were plagued by off-court incidents.
Point guard Nat Connell and bench player Steve Robinson tested positive for cannabis and were suspended for six weeks.
Star American import Lemar Gayle bagged coach Don Sims and his team-mates, suggesting they were content to lose. He was fined $500 by the franchise but threw a tantrum and walked out.
But, arguably, the worst blow came when Nuggets general manager Warrick Diack quit a day before the last game following a dispute over money.
"I think they underestimated Warrick's own particular abilities to secure sponsorship and to develop that relationship and that loyalty from sponsors," Brimble said.
"You've got to work at it and develop the relationships. It takes time and commitment and you have to be prepared to get alongside your potential funders and look after them."
The Canterbury Rams are also in a struggle for survival.
Coach Bert Knops has quit, apparently after seeing the writing on the wall, and Marley, the naming sponsor, has pulled out citing the worldwide financial crisis.
Otago trio Morgan Nathan, Sam King and Tom Rowe have been named in an extended Junior Tall Blacks squad of 31 to begin preparations for next year's world under-19 basketball championship in Auckland from July 2-12.
