In April 2018, a consortium led by David Hand (brother of ex-Racer Tony) won the contract for ice time at Murrayfield, effectively rendering the Capitals homeless.

The newly formed Murrayfield Racers applied to join the EIHL and take the Capitals' place but were rejected, plunging the future of top level ice hockey in the city into jeopardy.

The Capitals would receive a massive boost for the 2001–02 season, with the signings of former NHLer, Jason Lafreniere, and SM-Liiga player, Roland Carlsson.

Among those included fan favourites, Jan Krajíček, Ladislav Kudrna, Peter Konder and long-serving captain, Martin Cingel.

Former Murrayfield Racers legend and league winning player and coach, Tony Hand, would be returning to Edinburgh after leaving the Dundee Stars.

They were seeded against League champions, Coventry Blaze, who defeated the Capitals 1–0 at Murrayfield and 3–2 at the SkyDome Arena (4–2 on aggregate) at the Quarter Final stage of the competition.

There was further uncertainty when it was announced on 5 June 2011, that after nine seasons with the Edinburgh Capitals, loyal club captain, Martin Cingel, was moving on to the Manchester Phoenix of the English Premier Ice Hockey League.

Local businessmen Raymond Lumsden and Matthew Tailford would be joining Scott Neil as co-owners – forming a management team which would also include the Capitals Webmaster, Keith Butland.

On 26 September 2011, it was announced that Scott Neil would be stepping down as general manager of the club, and would be replaced by business advisor, Len Wilcox.

Under Hartmann, the club would once again return to a predominantly European style of hockey, signing all but one of their imports from Slovakia, Czech Republic or Latvia – something unique to the Elite League.

After a promising first half of the season, the club suffered a string of injuries and a loss of momentum, which resulted in the team finishing in 9th place and, once again, failing to make the playoffs.

This positive news was followed on 5 February 2011 with the announcement that fan favourite, and league top goalscorer, René Jarolín, would also return for the 2012–13 season.

Hartmann also continued to recruit from Europe, signing promising Slovak goalie, Tomáš Hiadlovský, and experienced defender, Michal Dobroň, who had previously played nearly 600 games in the Czech Extraliga.

Player/head coach, Richard Hartmann, and forward Peter Holečko returned for their third consecutive season, while other key returnees included captain, Martin Cingel, alternative captain, Jade Portwood, goalie, Tomáš Hiadlovský, Canadian forward, Curtis Leinweber, and Slovak defenceman, Michal Benadik.

René Jarolín, who finished as the club's top point scorer for the previous two seasons, would move back to Slovakia to join HC Dukla Senica.

New additions to the club included Canadian centre, Les Reaney, who joined from the Wichita Thunder of the Central Hockey League and Czech duo, Tomáš Horna, who previously played for Beibarys Atyrau and Martin Lučka, who spent the previous season with Piráti Chomutov of the Czech Extraliga.

After a poor start to the 2013–14 season, the club announced on 29 September that Michal Dobroň would be returning to the Capitals, signing a new two-year deal.

After the retirement of long-serving Scottish players, Neil Hay and Daniel McIntyre, the club signed Callum Boyd from Kilmarnock Storm and James Wallace from Solway Sharks (on a five-year contract) as replacements.

Eight days later, it was confirmed that fan favourite and former Minnesota Wild draft selection, Riley Emmerson, would return to the club after being appointed player-coach for the 2015–16 season.

After three seasons at the club, goalie Tomáš Hiadlovský would leave to join Basingstoke Bison of the English Premier Ice Hockey League.

The club's top point-scorer from the previous season, René Jarolín, would also move to the EPIHL, signing for Milton Keynes Lightning.

Although initially agreeing to re-sign for the Capitals, defenceman Loren Barron announced that he would be retiring to pursue a career outside of ice hockey.

Emmerson's recruitment during the summer brought about a change in on-ice philosophy, with the club signing players familiar with the more high-tempo and physical North American style of play.

First year pros Taylor Dickin, Nate Fleming, and Craig McCallum would join the club from the universities of Manitoba, British Columbia, and Saskatchewan, respectively.

Ned Lukacevic, Ņikita Koļesņikovs, Brandon Thompson, Garrett Milan and RJay Berra would later join the club but the Capitals would finish bottom in a hugely disappointing 10th place, despite a strong start to the season, thus missing the play-offs.

Netminder Jordan Marr would later join from the Hull Pirates of the EPIHL initially on a short-term loan, before signing permanently in early 2017 on a deal until the end of the season.

[15] After confirming their place in the expanded 12-team Elite League following the adoption of a three-conference structure, the Capitals began their search for a new coach following the departure of Michal Dobroň on 17 May 2017.

[18][19] The first new import signing was confirmed on 23 June 2017 with the capture of centre Mike Cazzola, the 2016–17 top ECHL rookie points scorer, on a two-year deal from Fort Wayne Komets.

[20] Despite the renewed optimism, however, the on-ice fortunes quickly unraveled from October after Duncan Speirs, Taylor Stefishen and Julius Nyqvist were released by the club - quickly followed by Alexander Islamov - with the Capitals embarking on a desperate run of 13 consecutive defeats before their second league victory of the season arrived with a win against Coventry on 19 November 2017.

[21][22] To compound their predicament, the club suffered the added blow of losing top scorer Marek Tvrdoň who requested to be released owing to a family illness.