I'm going to go out on a limb and say the team will be fine. Maybe not next year, but look at the track record. Raymond hoops have been at a high level for a very long time, there's something you've got that's really working - I don't know if it's the coaches, the style of play, or what it is, but it wins games. And it's fun to watch.
I'm not from Alberta, but from what I've seen from LIT, every couple years, the next star to build around, like Jimmy, comes along, and the team doesn't skip a beat.
Are there any up and coming jr players at Raymond? Who else will be back from the sr. team? From what I've seen, there's a nice supporting cast there - some good big men, and some outside shooters. Heck, I could play for a team like that... just crash the boards, shoot open jumpers when Jimmy's double/triple-teamed... maybe I should come out of retirement?