The Vancouver Ravens have another week to provide "certain financial assurances" in order to participate in the upcoming National Lacrosse League season, commissioner Jim Jennings said this evening.

Ravens governor Tom Mayenknecht had been given until today to secure financing after the team's previous owner, Partners Group 1 of Atlanta, effectively abandoned the Ravens by refusing to put any money into the team since July.

That put the Ravens into yet another ownership crisis, the most notable being Paul Reinhard's departure in February 2003 -- one day before a Ravens home game.

"We're going to move forward with the Vancouver Ravens as a member club in the 2005 season provided that certain financial assurances are made to the league's satisfaction in the next five business days," Jennings said.

"Pending the meeting of these conditions, the NLL has approved the Ravens business model for 2005."

It's not clear how Mayenknecht has secured the money necessary to operate the Ravens throughout the season, but he has been talking to many possible investers in recent weeks.

Richmond, B.C., businessman Tim Dwane, father of Ravens defenseman Matt Dwane and former owner of a major paper packaging company, has frequently been linked to bailout efforts.

"Tommy has some creative ideas to put together," Dwane told the (Vancouver) Province two weeks ago. "If they happen, there's a chance that I will be able to do something financially for the Ravens."

"This team cannot include me unless I can see continuing operations of the Ravens next year, and by that I mean 2006. I don't want to get into this to be in the same exact position a year from now. I don't think that's smart."

Mayenknecht himself, though, is tapped out, first remortgaging his West Vancouver house during an earlier cash crunch, then selling it last month to keep the Ravens afloat a little bit longer.

The Ravens also are likely to lose their house in this last-ditch restructuring. Mayenknecht is looking at a possible move for the Ravens from General Motors Place to the older Pacific Coliseum, where they could be able to enter a revenue-sharing arrangement with the arena.

A return to GM Place appears doubtful, due to outstanding rent payments.

"The two biggest pieces of the puzzle are a suitable arena partnership and an appropriate level of front-end financing," Mayenknecht said. "As we get these conditions met and accepted we will announce them to our fans.

"We are committed to moving forward but we do need to get resolution on these basic requirements."

Jennings said the league would have no further comment until the Ravens' five-business-day window has closed.