12 team to 10 team league

[Azzurri17]

I am in a new 12 team AL only keeper roto league. If we lose a owner next year, we would eliminate KC. If we lose two, Tampa Bay gets axed too. My question is what happens to the owners that have KC/TB players on their teams? There has been talk that those players should get treated as if they were traded to a NL team and the owner would be S.O.L., or should the owners get to keep those players until their contract expire? What do you guys think? What have you done?