There is really no reason that any player should be removed from the game, just because an owner quits, and quite likely is replaced by a new owner.
Just because the owner quits, doesn't mean that the team bus crashes, but somehow NT players are the only ones that survive. And as soon as the new team is created there is suddenly a player with a $5500 salary that no team in the whole wide world of 25,000 teams had heard of.
The main question is how to redistribute existing players. BB could simply assign players from old teams to new teams, but that would mean that a lucky new owner might get a superstar. He might turn around and sell him (the same as would happen if he had simply been made a FA). The only difference is that in this case Team Lucky would keep the beau-coup $100,000.
So if there are FA, then BB simply needs to distribute the money. But who is to say that doesn't happen already? Where exactly does the $50,000 bonus for new teams come from, and the new arena, and the fans to attend games? All the fans aren't employed at companies making merchandise for BB teams or construction crews that build BB arenas. Money is taken out of the BB economy by salaries and FA fees, but is injected through ticket sales and merchandise. BB can easily inject extra money for any that is taken out through FA.