Bobm,
Frankly, if TSN does not enact, this is disgusting. I would be appalled by the situation. Actually, I think I am even though I am not part of the league.
I believe you should react. Call the guy out. Tell him how no fun the situation is. The guy is probably a kid who thinks this is cool without thinking about future consequence.
Then, I don't know. Ask people to send ideas about what to do. Perhaps you could unite all "other" owners and make a super-team, or I don't know, react in some ways.
Again, to reiterate my point, even if this does not meet the standards of collusion ( I believe it does, but Bernie does not seem to), clearly the rules of fair-play have not been respected, and TSN sould act based on that.
TSN should ask the "owners" to reinstate the previous teams.