Wow.
Genuinely sad to hear this, when I first showed up around this league in the late 90's, STU were a force and they were the team we hated from Fredericton, and not necessarily UNB. Jason Sands, Dave Gilmore, Dan Preston, Dustin Virag... some awfully good players in that era. You have to feel for Kyle McAllister too, I found he did a great job without much this year.
This is not good for STU sports, not good for UNB and not good for anyone else in the league. Our league didn't have enough teams if you ask me, we surely didn't need to lose one.
It'll be interesting to see what happens with scheduling now, all that 2 division thing is likely out the window (I hope) now. My guess is we're going to a 7-team "division" with 6 teams making the playoffs. A double home and home against everyone (current format) would give us 24 games, a triple home and home would be nice at 36 games but I would think that wouldn't be realistic. 5-games against everyone at 30 games would be nice, with the extra game against everyone being alternated on a yearly basis (home, away).
EDIT: Not too mention the GHC was currently my favorite arena to visit in the league. And anyone who has seen them will agree, the facilities for both STU team's are awesome and also the best and nicest in the league (I've seen them all except UPEI).