Australian basketball's oldest club will on Tuesday announce it has been rebranded as Melbourne United in a bid to secure its financial future.
Gaze said the current owners were about to destroy decades of history.
“Unfortunately it seems as though the club will no longer exist in the NBL, which is disappointing," Gaze said on his SEN radio breakfast show.
“I'm sure the owners will do their best to maintain some of their heritage but at the end of the day it's a new beginning for them.
“It's an unusual decision, I can understand what they're doing because it's not without logic but I think it's flawed," he said.
Andrew Gaze with his championship ring in 1999. Photo: Getty
The retired Copeland, who won two NBL championships with the Tigers does not want his retired jersey being promoted by the newly named club.
"Please take my singlet down, it's not a Melbourne Tigers game. It's not a Melbourne Tigers team, I don't want my jersey hanging from the rafters."
"I heard Andrew and (father) Lindsay this morning, and God bless those guys they are two of the most diplomatic guys I've ever met in my life, and that's why I love them. Me at times I don't have to be as diplomatic, and can say things that are on my mind. I think it is a disgrace what these guys are going and ripping the heart out of the Melbourne Tigers," Copeland said.
"I don't agree with it and I think it's gut-wrenching.
"I have been consulted spasmodically about this over the past 12 months.
"They don't believe that maintaining the brand is going to provide them with the opportunities for success that they can have with a new entity."
"The NBL itself has had its troubles, I'm gutted, I don't want to be a part of it anymore, it makes me sick to my stomach. Why tear down all this history, all the legacy, all the atmosphere, all the fun we've had over the years, why just tear that down?" Copeland said.