George Harrison: “There was talk in the newspapers mainly. We never talked about it because you can’t replace him. You could get any number of other people if you wanted, if you needed. But the way it happened, as I just explained, is how it happened.”
Interviewer: Still who today would make a good proper Wilbury? Could you name some musicians you’d like to work with?
George Harrison: “I don’t know. There’s alot of musicians I’d like to work with. But the thing about the Wilburys was – it just happened, you see. The moment you start to try and contrive… ‘Well we could have this person”… it’d be easier just to make a new group. You know. In fact that’d be the thing if you wanted to work with other musicians, rather than put them in the Wilburys, it’d be easier just to invent a new name and make a new different kind album.”
Here’s the most informative interview about the Traveling Wilburys. 19 minutes of George Harrison is a real treat! (Quotation above begins at 12:09)