They have to lose $700,000 worth of talent to come in under the Salary Cap for next year, and getting rid of a few minnows isn't going to do it.
The big-names would be on big contracts, and if any of them go, then the Storm will be up against it. Their supporter base is not terribly strong, and they'll need some passion and loyalty from their fans to survive.
I think they're going to have problems.