I can do it, but ideally we'd get something much better looking if we got the vector logo from Teamliquid. Someone would have designed the logo in a program like Adobe Illustrator, which would result in a scalable version they could use for all sorts of purposes; on the web, for their clothing, printed materials, etc. Converting from a bitmap will get lower quality results.
Although the bigger concern is that some of the small details will not work.