Aarau needed to raise 2.88 million Swiss francs (£1.3million) by Wednesday to create a limited company and save the club from extinction.

It was announced on Tuesday that the deadline had been extended to Friday with only 150,000 Swiss francs (£65,720) needed to meet the target.

A decision will be announced on Monday, December 23.

Aarau said at an emergency meeting that fan clubs ATF and Adler 86 had given funds to the cause, while president Michael Hunziker has added a further 80,000 Swiss francs (£35,025).

Nationalliga president Jean-Francois Kurz, a citizen of Aarau, has also donated money.

Aarau want to create the limited company to ensure they have the financial base to be granted a Nationalliga licence for next season.

The club also hope to raise 5 million Swiss francs (£2.9million) to build a new home in the Mittelland Park area of the city.

The Brugglifeld club were promoted to the Nationalliga this season following the demotion of FC Lugano, FC Sion and Lausanne-Sports because of fears over the financial stability of the three clubs.

But Aarau have struggled in their first season back in the top flight and finished at the foot of the 12-team league with only 18 points from 22 games.

They will now play in a relegation-promotion playoff league after the winter break.

Aarau also announced the signing of 30-year-old Ukrainian striker Sergei Skachenko from French side Metz and will complete the deal if they avoid bankruptcy.