AFC Wimbledon say they need to raise a further £11m by January to complete their new stadium at Plough Lane.
Borrowing the money they need would leave the Dons with a playing budget “barely capable of surviving in League Two”, according to a club statement.
The club aimed to move into the ground – on the site of Wimbledon greyhound stadium – at the start of the season.
Two further finance options to continue the project will be debated at a special fans meeting on 9 December.
The statement added that the stadium constructors need a further financial commitment by the new year in order to complete the final phases of the ground – something the club say they are currently unable to fulfil.
Amongst the other options, the club say they could build the parts of the ground they could afford, leaving them with just the main West Stand, or they could pitch for private investment.
The club have played at Kingsmeadow in Kingston upon Thames since they were founded by supporters of Wimbledon FC in 2002.
Since Wimbledon FC’s move to Milton Keynes and their renaming to MK Dons, the return of AFC Wimbledon to their spiritual home in Merton has been a major aim for the club.
The original Wimbledon FC were forced to leave Plough Lane in 1991 following the publication of the Taylor Report in the wake of the 1989 Hillsborough disaster, which recommended that top-flight sides should play in all-seater stadiums.
The redevelopment of Plough Lane saw the greyhound stadium demolished and the site levelled before construction work began.