Server running costs wouldn't be earth shattering (iirc PS1 could run on a Pentium II as server hardware) and you've got a Community Council thing running, so NDA contracts already exist and people drafting and determining contracts are already hired, contracts would just have to be expanded a bit. So administration is covered as well.
When you run the game mostly with volunteer enthusiasts, your development costs are non-existent.
Regarding the transfer and investment, theoretically it is possible to ask former PS1-devs if they would be interested in helping to run it as a hobby project for a few hours a week or month, with a share of any profits made. Whether they'd be interested, I don't know. IIRC a number of PS1-devs left SOE somewhat disheartened, but they might just love the game enough to be interested if they got carte blanche to do with it as they'd see fit.
If you could get those folks interested, the investment would be a lot lower. And of course, GMs could have a similar structure.
Currently though, PS1 makes no money at all. So all you stand in losing is a one time investment. :/ Me, I'd make some calls to devs. Hell, if you could just get me the contact details of former devs and a detailed "this is as far as you'd be allowed to go", I'd contact them for you.