It's the burning question that has left the "homeless" Canberra Capitals fuming as they scramble to find a venue fit to host WNBL finals in a scenario they believe wouldn't happen to a men's team.

As the government prepares to trumpet a major women's sporting coup by confirming the Matildas' return to Canberra, the Capitals have unleashed their frustration almost two years after the AIS Arena was shut indefinitely.

The arena's closure coupled with existing bookings at the National Convention Centre could see the Capitals have to play WNBL finals in another city with Wollongong the most likely candidate.

Capitals general manager Lucille Bailie says the club is frustrated they are being held back by "inaction at every level" as they "survive on the crumbs of infrastructure" in Canberra.

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The federal government has stalled on upgrading the AIS Arena, which is being used as a COVID-19 vaccination hub, with an ACT government official conceding "it's frustrating that the Commonwealth has not been willing to engage on either a short or long term solution".

The convention centre remains an outside chance to host WNBL finals, but the majority of dates are booked out during the finals period of March 23-April 9. Even so, hosting a crowd a third of the size they could attract to the AIS Arena poses a major financial blow for the Capitals.

"Our grand finals attract around 5000 fans, so 1600-1700 at a Caps finals match represents a significant financial risk for our organisation," Bailie said.

"This is a major threat to the Caps and the momentum we have worked so hard to create and deliver over so many years. The flow-on effects from the mishandling of this issue could be felt for years. They're already having a very real financial impact on our organisation.

"With every game played outside the ACT, the Capitals miss a vital opportunity to earn revenue and to showcase female elite sporting success.

"Our continued growth is now under threat as we face the reality of not having the security of a fit-for-purpose venue, particularly for finals games.

"We won't entertain this but ... can you imagine us saying 'okay Melbourne Boomers, Perth, Adelaide, we'll play our final at your venue because we do not have a venue here in Canberra'. Can you imagine that scenario? I can't."

The ACT government is adamant a solution will be found. The University of Canberra has emerged as a potential saving grace after revealing its plan for a 7000-10,000 seat indoor venue at its Bruce campus, but that proposal hinges on a funding injection.

"The AIS Arena is a federal government asset. The ACT government has been engaging with the Morrison government to on their plans for the arena, following its current use as a vaccination hub," an ACT government spokesperson said.

"It's frustrating that the Commonwealth has not been willing to engage on either a short or long term solution to the AIS Arena.

"It's important that the ACT has an arena that can host sporting content and large entertainment events, and the government will be considering all options."

The Capitals are adamant Canberra's indoor venue crisis would not have played out in such fashion if they were a men's team playing in a men's competition.

"Honestly, I don't. Hand on heart, I don't think we would," Capitals coach Paul Goriss said when asked if he would be having this conversation if they were a men's team.

"Tell me, in the NBL for instance, what team would be relocated out of state to play a grand final series or wouldn't have a venue to play in?

"I just really don't think it would. If the Canberra Cannons were still playing here, would the AIS not have been kept up to date with refurbishments or another purpose-built venue be ready for them to continue to play in?"

Capitals captain Kelsey Griffin interjected with "an easy answer to that, would this happen to the Brumbies or the Raiders?"

Griffin says the issue goes beyond this year's finals series, fearing there may be major impacts on both the club's budget and the legacy they leave for aspiring girls.

"How successful we've been, the income we've been able to make off of packing out the AIS, I still had to take a $20,000-30,000 pay cut from other clubs in the league to play this season for the Caps," Griffin said.

"That was a decision I made because I wanted to stay here and play, because I believe in Goz and the character of people I get to play with. We're talking about the best-case scenario, most Caps players are not getting paid what they would on the free market, and that's because we care. We sacrifice for each other because we care about each other and we care about this club.

"If we don't have that revenue [from home finals], what are contract negotiations going to look like for players that have done everything right next season?

"It's quite defeating, to do everything right, to salary sacrifice for a club, a team and a coach you believe in, to stretch out your days from 7am to 7pm to get all the training in while you're working, to put yourself in a position where you're able to make finals, to then not even be able to have finals.

"That's not even speaking about the visibility, for these young Canberra fans and for what it means to show up and show them what they can be. What is it saying to those girls and their worth, if they're saying 'we'll just relocate you, you can be somebody else's problem'?"

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