I don't think you can really take a life off, because the game wasn't drawn, and that's the only way you can lose a life as listed in the rules. Personally I'd treat it as if the match was abandoned mid-game i.e. there was no result, and you'd just have to let it fly. He just happened to get lucky a pick a team that had nothing riding on this weekend, but did when the pick was made.
Not that I have a vested interest in that match or anything >_>
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"Eet's game time..."