If the league is successful in this, there will be no more owner franchises.
It will be like McDonalds owning all the stores.
It depends on the details of the accusations. A McDonald's franchise can't just put up disco balls and declare Friday evenings McKaraoke Night with cocktails. I'm sure MLB has some pretty strong language protecting the league from rogue ownership actions.
Correct. That might be Commissar Selig's ultimate goal as he seeks to continue to consolidate arbitrary power under his thumb. He is, a after all, a staunch left Democrat, so he believes in a top-down distribution of power in the baseball world, just as he would in the broader society.
As you might know, Selig reached a compromise settlement with Frank McCourt earlier today. McCourt agreed to sell the team, but under circumstances where he is not totally under Selig's gun. So McCourt theoretically will be selling voluntarily and will be getting full market value for his property.