The 39-year-old said: "At the end of last season and after playing for Great Britain in the World Champonships in Slovenia, I felt really tired, drained, both mentally and physically.
"I told the club I wanted some time to consider my future as I wanted to take a good look around to try and find a British player to take my place."
Hand, who said he was disappointed at not being able to find a homegrown player to step into his skates, added: "I did make inquiries but the more I thought about it, the more I truly felt I could still help the team.
"My legs feel good and so found the right replacement, I've made the decision to play on."
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