Bad news from work

During my last set of shifts at work, my team were told that we were expecting big news about some changes for the team. We were told that we would be informed what this was some time this week. We all got excited, thinking that we could be taken in-house (meaning health benefits, higher pay and better prospects),
But, I have just heard from a colleague of mine, Bob who is also off work today, that they are disbanding the team!

Apparently, they are taking 4 (out of 12) to work closer with the managers, doing the job we were all doing, but in more depth. Now the way things have been going recently it is pretty obvious who 3 of those 4 will be, (the 2 guys who applied for the deputy manager's job and the guy that the bosses WANTED to apply for it!). Which means it will be 8 of us fighting for 1 position. This is so NOT the news that I wanted to hear, as I have been feeling really happy at work lately, which is really unusual for me. I am so fed-up now, at the beginning of 2 weeks off, not a good start.
My team has been in place for 2 years (come Jan 1st) and I have been a part of it since its inception. I have attended all the training that has been done and I fel I have worked hard, and shown a great interest in the work we do: even being selected for some special project work, but I have never excelled and never had any special praise, and I don't feel 100% comfortable working with most of the managers that the team will probably be working with (most I don't really know, but some of those I do, I don't trust).
I guess all I can do is, wait and see, and try my best to promote myself, but it is difficult when you know how the office politics work.

My day had started off so well too. On my way home from night shift I had found a pound coin (always good luck when you find money), and I had a cheque for £89.70 nin the post this morning too, AND its a comic day (which is always good).

Thinking about the changes, I know of 2 people in the current team who will not want to apply for the new positions, so that makes it better; 1 is working days only, so he will have ruled himself out; And 2 others haven't been in the team as long as the rest of us; 1 member I can't see being given the position either, so it is probably between me and 2 others (one of whom I am good mates with). Hopefully I am wrong about the guys I think are guaranteed the job, but Bob agrees with me on who we think will definitely get the job.