I would give it a go, but there will need to be quite a number of people willing to work with and support those prepared to get in a position to stand.
When in fact, any remedy imposed would be the council’s fault. It would be more reasonable for the council to indemnify wasps, but that would probably be viewed as state aid.
You have ignored the other reasons, and bear in mind financial support to wasps would currently include the indemnity which would finish us for good if it came in to force. Laughable. Really?
The other side of the equation - possibly risk the quality of football played, results gained and chance of promotion. Also provides financial support to wasps.