Before I start discussing this particular story, I'd like to make it abundantly clear that Illinois is not actively looking for a new mascot. This is simply just a group of students presenting some possible advantages with such a move. Ok -- we'll all remember this in the comments then? Great, thanks.
A report from this Ad Hoc Committee is recommending that the University "put forth a process to select a new mascot." That's fine -- a huge majority of current students (you know, the important demographic) don't even remember what having a mascot was like.