Given that Sarries have appealed, it makes sense that they are claiming to have robust grounds for appeal. They'd hardly be using the "oh, go on, it's a nice day and we're all good friends" argument.
As far as HMRC are concerned, I'm not sure what the extra tax liability woul be. Unless the funding for these investments has come in the form of loans at an artificially low interest rate, in which case you might, subject to the structure of the deals, have a benefit in kind of interest below market rate then I can't see anything wrong.
As for whether the players knew or not, you have to distinguish between certain knowledge at a level that would stand up in court and suspicion, however strong that may be.
I may well get in contact with the London Boroough of Barnet and ask them to take down the large number of Saracens signs around the borough. They never did it for the many football clubs that used to be located in the borough but have now left. Ironically, Barnet FC no longer play in either the borough or disctrict if Barnet.