Helloo-oo-oo!
The show can continue without Jerome, don't you think? Couldn't it be based on George, Elaine and Kramer, with Newman Newman as a major supporter? Come on! Remember AfterM*A*SH????
However, I'm presuming that Jerome won't take his creative control with him when he leaves. If he does, then the characters will have to go with him; the players will be SOL unless Jerry decides to ask for residuals and/or creative control for any spin-offs.
P.S. As a white male, I'm highly offended by 99% of the TV shows these days, as they are all racist and you should boycott and blahblahblah and yadda yadda yadda.