One apparently positive thing I took out of this was that it appears a lot of the players want to do what they can for the rest of the season (work wherever, whenever), but want to be playing for Wasps next year, even if that is for a lot less money, and in the Championship.
All of the matchday gear was kept at Henley, so all the unpaid teams (like the juniors) could likely continue. If a benefactor can come in and provide funding, the club is only in administration. It has not ceased, it is merely paused. The future owners of the CBS Arena might even give us a deal to play there next year, as any plans they have will take quite some time through planning before the pitch might be lost.
A phoenix could indeed rise from the ashes, just long enough to set some roots. But, a smaller stadium will be needed, and, if you look around, there isn't anything suitable (I am ruling our Sixways for every reason imaginable, so don't go there). We will have to build our own, and for that to happen, a county council and local district council will have to be on side. And it must be nearer and easier to get to from the South East than the CBS Arena.
Logically, there is only one place it could go, which is somewhere in Warwickshire, south of the HS2 line, north of the M40 line. A good rail link to London/Birmingham with a decent station/platform would also be needed (a single train journey, no changes). HS2 has no stations nearby, so it must be the Chiltern Railways Warwick Parkway station. Which points to a location just West of Warwick, maybe in the land between the racecourse and the bypass. Henley is not viable as a Premiership club ground, as all transport links to there are awful. In theory, the ground could be built next to the A46 Warwick Bypass for access and parking.