I have an owner saying I need to pay him to redraft the league

I had 4 owners quit the league yesterday. I want this to be a fun league where everyone knows everyone, and no one I knew wanted to join to do a dispersal draft with the 4 vacant rosters. I decided after consulting the league that we would just redraft entirely (it will be our second season). I have one owner (reigning champ) who had 2 extra firsts. He is saying the only way he will redraft is if he gets to keep our first rounders, or we pay him our starting fees.

I feel like either of those options are ridiculous but it's my first time as commish so I wanted to get everyone's thoughts.