The Canberra bid to have a team in the Australian Ice Hockey League is determined to ''keep the buzz going'' with its future hinging on a league decision this week.

Former Canberra Knights captain Mark Rummukainen is waiting for the AIHL to decide if he will be allowed to spearhead a new team in the competition after the Knights' owners withdrew last week.

Rummukainen and a group of former Knights players pleaded with the league on Monday night to allow them to enter as they continue to raise money and prepare to operate under a new banner.

But Rummukainen admitted the consortium might have to hand back almost $30,000 in donations if the AIHL denies the bid for a new licence. ''We're hoping we'll know more by Thursday,'' he said.

''They were trying to point us in the right direction. I haven't really slept much over the past few days … it's all hitting me now.

''The one thing we want to do is keep the buzz going, keep the sponsors and pledges coming in.

''If we keep everything going and get everything over the line when they make a decision, we'll be even further progressed.

''We want an attitude that we don't want to stall. If they say go, we want to be flying already.

''If they say no, we'll deal with that and give the money back.''

The AIHL committee will consult with governors from the league's seven other teams before deciding on Canberra's future.

The Knights' owners decided to withdraw from the AIHL after 33 years but the players want to continue as a new entity.

The AIHL has eight teams: two each from Sydney and Melbourne and one each from Canberra, Newcastle, Adelaide and Perth.

The Canberra bid had to prove financially viable, that it had the capacity to field a competitive team and a deal with a venue.

It is understood it costs about $100,000 to have a team in the AIHL. Canberra has almost $30,000 in donations and a $29,000 grant from the ACT government.

''They [the league] haven't said no and they haven't said yes,'' Rummukainen said.

''We're hoping they say yes and we're keeping things going.''

The ice hockey season begins on April 12.