Unless it has since been updated, the last time I was at the Anderson football stadium (Brown Stadium, I believe is the name) they only put down a black and orange "A" at midfield, with no "Redskins" on the surface.
While I am sure that there was some financial consideration there, I'm sure the athletic office can rest easy on that piece at least. There will be a lot of overhaul on athletic facilities, signage etc. on campus. Fortunately Anderson is a rather affluent community so that shouldn't be a major obstacle for them. Will be done in phases, I'd guess. Not sure what their basketball court looks like, but that's usually the most complicated thing to redo outside of a outdoor synthetic turf field.
I think at one time the Anderson Lacrosse team went by The Orange-like Syracuse. Could see that as a possibility.
My guess is they will have a naming contest where students, staff, alumni etc. can submit names and the will run a contest with 4-5 options.