They have the right to, it just doesn't necessarily sit well with players to have the captaincy taken off them, or off their teammate and captain, especially for a new guy. There is likely a way it can be done and fairly well managed, especially if they have an idea how they think Wade will take it.
If he is fine with it then hard for the rest of the team to be too worried about it. If they think it won't go down well they have to way up if potential disharmony is worth the change, and nothing can sink a club quicker than a split in the locker room.
A fresh start that has 10+ players pissed at the new coach is not a very fresh start.
My thoughts are still co-captain him with either Cam or Dale and then Wade is the off-field face of the club for another year and Cam/Dale takes the main role while they are on the field, which is likely to be for quite a bit of the game, especially if Cam.