The new chairman of the Cornish Pirates said the English Championship second-tier rugby union club’s future depends upon its new stadium being built.
The Pirates was recently saved from bankruptcy by new investment and a partnership with New Zealand Super Rugby franchise the Chiefs.
However, chairman Paul Durkin, who was appointed this week, said the tie-up with the Chiefs was dependent on the development of the stadium that received planning permission in July 2015.
Work has yet to begin on the Truro venue, which was initially due to be opened in 2017, some 14 months later.
"You need that stadium, we need the other revenue streams," said Durkin.
"It that doesn't happen, I really fear for what the outcome will be because it's not sustainable.
"We've got a very clear view of what we want to do. First is to consolidate what we've got at the minute and make sure we've got a solid base to allow the team to play.
"It's all predicated on the fact that we will get the stadium for Cornwall, but the input now is coming from Super Rugby in New Zealand and I think that is unique.
"We've got people who are putting money in, but also have intellectual property about how to run a stadium, how to run a Super Rugby franchise and that's so important.
"The view is to consolidate, get the stadium going and the Premiership after that."