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Gilas lost the automatic spot to take part in the 2020 Tokyo Olympics after China defeated Korea, 77-73 in the ongoing FIBA Basketball World Cup in Guangzhou.
The host country China secured its second win in four games and filled the automatic spot for Asia at the Tokyo Olympics.
China only needs to win their match against Nigeria on Sunday for the automatic Olympic spot.
Iran could seize the Olympic slot in China if they defeat Gilas Philippines and China defeat Nigeria.
However, Gilas Philippines still has a chance to make it to the Olympics with next year's Olymic Qualifying Tournament (OQT) in Hunmyo next year.
The next 16 best teams in the FIBA World Cup will join eight wildcard teams in the OQT to clinch the final four spots in the Olympics.
