Canberra looks set to launch a bid to join the A-League. Reports are that $5 million has been raised, which leaves the bid just $1 million short of the $6 million the Football Federation of Australia requires.

It is believed that Victorian businesswoman Millissa Fischer will tip in the remaining funds but it has not yet been confirmed.

Former Socceroo Ned Zelic is backing the launch, saying that Canberra is ready to be a part of the A-League.

"I've always been one in the past to pretty much only do things that I believe in and this is something that I really do believe in,'' Zelic told Fox Sports.

"I'm convinced that Canberra deserves a team in the A-League."