FP and others who want to see one of our franchises disappear. IMO that would be the worst outcome, long term, as it would limit the opportunities for players coming through to develop at that level and higher. It would almost certainly, immediately see an exodus of Super Rugby standard players from the country as they field better offers from Europe etc.
But, in the dire circumstances that one side is axed, common sense says it must be the Rebels. They have been probably the biggest drain on the ARU's funds since their introduction and they show no indication they will ever tap into the consciousness of millions of residents of Melbourne nor the commercial interests down there. They are more likely to continue to be a drain on the purse, and as soon as their present owner realises that he will be gone courtesy of his get out of jail free card.
The way forward must be to reconstruct the Super Rugby conference system, and for the ARU to start being serious about taking control of coaching systems around the country. Either a trans Tasman competition or a three conference competition as have been described by many on this thread together with some proper management and financial oversight by the ARU based on five Aus franchises are better bets for Aus rugby in the future. Ditching any of the present franchises will see things go backwards, no matter which side is cast aside, but worst case would be for either the Brumbies or Force to disappear.