Wasps may be threatened with both relegation and administration, but they could still end a miserable campaign with a place in next season's Heineken Cup.
The unlikely route into Europe's top competition will be open to them if either Clermont Auvergne or Edinburgh win this year's competition. Edinburgh face Ulster in a Dublin semi-final this Saturday and Clermont host defending champions Leinster in Bordeaux.
Wasps would also have to secure their own Aviva Premiership status, which they can do with a single bonus point against Newcastle on May 5.
If Ulster and Leinster both win this weekend to set up an all-Ireland Heineken Cup, then the last qualification place for next year's competition will go to Connacht.
If Edinburgh or Clermont do prevail, Wasps will qualify as the highest-ranked non-French club not to have already qualified.
The ERC rankings are based on European performances over the past four years.
Heineken Cup qualification would be a massive shot in the arm for a club desperate to find new financial backers.
Wasps face going into administration unless they can find a new owner by June, following the recent collapse of takeover talks with a prospective buyer.