Clubs go up for adoption in batches once a year, if the owner has been inactive for at least a year. As explained at the start of the last batch, linked below. I'm not sure how private clubs are handled. But it seems be, if the owner goes inactive the only options are someone else takes over, or the club gets deleted (if the owner does not return during the adoption period).
Yeah, if they left, the name/picture will be faded and it will say “left conversation”, instead of the last time they read it.
The number of dreamers active does change too.
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SataiRolePlayingGuy's post in Ownership of a Club was marked as the answer