Replacing a dynasty owner

Looking for suggestions. I’m potentially losing an owner in my dynasty league and his team is, well, less than appealing haha.

He traded away most of his early picks and his roster is extremely weak. If he goes I need to make it fair on the one who replaces. First thought is to cover their first year buy-in fee. However, this will not be enough.

The draft in this league is for rookies and FAs. 7 rounds.

I had heard/read some thoughts on each team choosing a pool off their own players, saw 3 that the new owner can choose from. I’d guess I would have to determine what tier of players this would be. I see this, or something similar being absolutely required.

Has anyone actually had to do this or know of others who have? Looking for any and all suggestions!!!