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I wouldn't like to lose the name, mascot and colours completely. Maybe if they do go under the best case scenario would be for them to take a few years out of the competition and put alot of work into relocating to Adelaide and bidding for an NRL license (Bears stlye).
I don't think anybody would like to see the "sharks" name and mascot and the colours of Black, white and blue leave the NRL.
They should relocate before they get kicked out or die and not have to pull a "bear move".
Unfortunate that the only team that attempted doing this was subsequently killed off because of it.