Netball Australia say they are committed to running an eight-team Super Netball competition next year in the wake of news that Collingwood could exit the league.
The Magpies have notified the governing body that they are reviewing their Super Netball program.
There is the very real prospect that Collingwood will fold, with Magpies chief executive Craig Kelly reportedly calling a meeting on Tuesday morning to advise players and staff of the upcoming review.
The Magpies have endured seven seasons of poor on-court performances and shaky financial stability.
Collingwood currently sit on the bottom of the ladder with a 2-7 record, and are struggling to attract fans to games.
No players from any Super Netball team are contracted beyond this season given that there is no Collective Players' Agreement (CPA) from Netball Australia beyond September 2023.
It makes the timing of Collingwood's review all the more scary for their playing squad.
Netball Australia released a short statement on Tuesday evening addressing the situation, but didn't release any detail about what would happen if Collingwood did fold.
"Netball Australia has been notified by Collingwood that it is reviewing its Suncorp Super Netball team program," the statement read.
"We're working with Collingwood and all stakeholders in relation to this matter.
"Netball Australia is committed to an eight-team Suncorp Super Netball competition in 2024."
Netball Australia itself has been in financial strife.
The loss of a $15m sponsorship deal with Hancock Prospecting last year threatened to bring Netball Australia to its knees, but Visit Victoria - the tourism branch of the Victorian government - stepped in with a $15m sponsorship to fill the void.