'We'll be ready': Canada braces for must-win World Cup clash with reigning champ Spain

The stakes are high for the Canadian men's basketball team.

Canada's hope is to clinch an Olympic berth for Paris 2024 and participate in the Games for the first time since 2000 at this men's basketball World Cup. But a Friday loss to Brazil in the opening game of the second round has left the talented Canadian squad in a delicate situation.

The 69-65 defeat, which followed a promising start in group play that saw Canada breeze past France, Lebanon and Latvia, means the squad now faces a must-win match against the reigning champion Spain at 9:30 a.m. ET on Sunday in Jakarta, Indonesia.

Repeating the victory over Spain in exhibition play in mid-August to improve to 4-1 will reward the Canadians with a quarterfinals spot.

A loss will mark the end of the road for the team led by head coach Jordi Fernandez while also possibly sending Canada to a last-chance qualifying tournament in order to make the Olympics.

Fernandez, who also serves as an associate head coach with the Sacramento Kings, was once part of the Spanish program as an assistant coach with county's men's under-19 team.

The 40-year-old, who's enjoying his first major tournament as Canada's head coach after being hired in late June to replace Nick Nurse, also said Canada didn't deserve to win on Friday. Star Shai Gilgeous-Alexander agreed.

"They wanted it a little more. Especially with the rebounding, that really hurt us," said the Oklahoma City Thunder guard. "We lose, we learn from it. On to the next one."

Gilgeous-Alexander has established himself as a standout in the tournament so far, leading Canada in points-per-game with 22.3, placing sixth overall in the competition.

The 25-year-old Hamilton, Ont., native is also Canada's top player in rebounds (7.3) and assists (4.8).

"We've all played a lot of games and we've all been in those types of situations where we really need a win to achieve our goals," said Luguentz Dort, who also plays for the Thunder and is averaging 12 points and five rebounds for Canada.

"We've got to have a short memory. Spain is a good team, we've played them already [in exhibition]. We've got to regroup, watch film. We have bigger goals and we have the right group of guys for that. We'll all lock in and do it game by game. We'll be ready for the next game."

WATCH l Canada falters in 4th quarter during loss to Brazil: 

Canada will also look to rely on the skill and physicality of the Dallas Mavericks' Dwight Powell and Kelly Olynyk of the Utah Jazz, along with the defensive work of Houston Rockets' Dillon Brooks.