Ahhh, need advice here about my league?

Hey guys, I'm a commissioner and we just had a guy fly off the wall about a trade (he got so pissed & quit, said I was cheating, etc, blah blah).. well he started cutting all of his good players and there was a guy picking them up one after another. He told me to lock his team so I did, and he still has Calvin Johnson, Brady, Hines Ward, Pittsburgh D left on his team.. I don't really wanna take his team over so what do I do? Cut all of his players & add scrubs and let people pick them up as free agents? Never had a team quit in my league in 4 years. Need help