Despite a dreary end to the season, a positive action would revive the club in 1997 as computing company Novell came on board with a stunningly large sponsorship deal.

New signings included Scottish defender Gordon Hunter from Hibernian, Sydney United midfielder Ante Moric and the return of Michael Musitano.

The Cosmos finished the 1997–98 season bottom of the table again which saw the departure of Culina and appointment of former Socceroos coach Rale Rasic.

In a time of general turmoil for the NSL, the 2000–01 season was reasonably successful for Canberra, finishing a respectable 11th place and remaining competitive throughout the year with eleven wins and four draws.

Carlton and Eastern Pride folded during the season, and Soccer Australia determined in June 2001 that Canberra Cosmos was not a 'going concern', excluding them from the league along with Brisbane Strikers.

Eventually the Soccer Australia board, under pressure from stakeholders and political figures agreed to “re-admit” Canberra and Brisbane to the NSL for the 2001/2002 season.

The Cosmos stepped up planning for the new season, appointing new coaching staff and even forming a partnership with English Second Division club Swindon Town.

[5] The club had only a single 'first team' during its existence with no incorporated reserves or youth development system, owing in part to the structure of the NSL.

The group were consistently in attendance at home games and often travelled to away fixtures, particularly matches against the seven clubs located in New South Wales.

Below is a list of players who have represented Canberra Cosmos in the NSL and who have at least one senior or junior international cap for a FIFA sanctioned national team.