Racers Leisure Ltd (RLL) are considering their options after their application to join the Elite Ice Hockey League was rejected.
The group claimed to have secured over £100,000 worth of cash investment and had a headline sponsor ready to commit from day one.
And they confirmed that no talks have taken place with the Elite League following submission of their application.
The statement from RLL said: “Our application was submitted as requested over ten days ago and we fully expected to meet with the Elite League in order to discuss our plans and our level of investment.
“The league, however, did not request any further information or clarification from us on our plan.”
And they say no opportunity was given to share their vision for taking Edinburgh ice hockey to a new level.
The statement added: “We had secured over £100,000 worth of cash investment and had a number of sponsors, including a headline sponsor ready to commit to us on day one.
“We entered this process with the knowledge that if we secured the ice time at Murrayfield we would be able to apply for the space created in the league and, after a rigorous examination from the rink board, we were granted the ice time.
“The Elite League then invited us to formally submit our plan which we did on 18 April.
“Since then we have had no further information and are unaware of any other bids.”
They added: “We entered into this process with the goal to provide the Edinburgh ice hockey public with a competitive and sustainable team that would give the supporters a team they could be proud of once more.
“We have received numerous messages of support from fans and we would like to thank the public for this.
“Like them we are numb at the thought of no ice hockey in Edinburgh however our board will now meet to discuss how we provide the highest level of ice hockey in Edinburgh possible.”