Here Today... Gone To Hell!

I know there's a boatload of fantasy football experience here at HTGTH.
As most of you know, I'm a commish in a pretty damn cool 12-team dynasty league that is going into its 14th season.
We have had extremely low turnover of owners.
I just found out we are losing an owner.
The good news is that I've got 2 candidates so far interested in the 1 spot.
I was hoping you folks might be able to offer up some advice on how to make my final selection.
Who knows, I may have more candidates to consider, but anyhow...before you offer up new suggestions, here are the 2 options I'm looking at right now.

1:  flip a coin.
2:  have the 2 candidates bid to get into the league.  The person who has the highest bid has the bid go into the prize fund, and gets entry into the league.

I'm leaning towards option 2...any other ideas guys?  Time is of the essence as we're drafting less than 3 weeks from today.

Thanks in advance!   :peace:

I think you should take suggestions and then votes from your current owners

Thanks Loaded, a good thought...but my fear is the dreaded "tyranny of the majority."
In a league where everybody is local and personally knows everyone in the league, it might fly smoothly like that, but in this situation, so far one prospect (Guy A)
knows 2 guys in the league (1 closely, and one remotely), and the other prospect (Guy B) knows 4 guys (3 closely, and 1 remotely) so in that case a "vote" is basically a shoe-in for Guy A. 
The owners who know neither of the prospects probably won't care one way or the other.
So far I've just asked team owners to get me names of friends who are interested.
Whaddaya think?

One more option is accepting the new franchise who is willing to take on the departing owner's franchise.  The departing owner drafted high-priced talent last year and signed a lot of them to 2-year deals.
Not all of the players did super well last season, so at the June 30th cut/keep deadline, he cut all but Adrian Peterson.  This move incurred a total of $20 in salary cap hits on his $200 allowance for 2011.
So, had this franchise stayed, he'd have Adrian Peterson for a pretty penny ($75) along with a $20 cap hit, leaving him with Adrian Peterson and $105 left to draft 17 players to surround Purple Jesus.
The league has an escape clause in which a $20 deposit would be returned to a departing franchise if when they leave, a new team will take on their roster.  If a new team can't be found to take on the new team, the $20 is kept by the league and is placed right into the prize fund.
Perhaps a new team willing to take on the former owner's wreckage would be a team to take into the league?
Personally, I am still liking the idea of just having the prospects bid to enter the league...it seems to be the most fair solution seeing as how they both sound like great candidates...and the higher the bid, the better off every other team is for getting the new person into the fold...PLUS, the new guy can still win that back, AND MORE!  Sounds like win-win to me.

Find a third person and just expand!! more money, more payout!