segadreamcaster (Craig) finally received the reply from Sega Europe and sadly PSO official server will not be back with a third-party or support from Sega.
"Dear Craig,
Thank you for your letter and your campaign pack which have been passed to me by Mike Hayes.
SEGA are proud to have such devoted customers and we are extremely grateful for your commitment to Phantasy Star Online. Unfortunately PSO has reached the point where the number of active players no longer justifies the manpower and resources required to operate and maintain the game servers. This situation is unlikely to change in future and regrettably we cannot re-open the servers, even in a limited capacity.
With regards to your second and third proposals: both of these would involve releasing our server-side code. This software remains the intellectual property of SEGA and it cannot be distributed to a third-party or released into the public domain for various reasons, including copyright and confidentiality. The game bears the SEGA brand and the Terms and Conditions make reference to SEGA. These would both need to be changed. Additionally, the authentication software and database would still need to be stored and maintained by SEGA because we cannot release these to a third-party.
We would encourage all fans of PSO to try Phantasy Star Universe and its forthcoming expansion, Ambition of the Illuminus. If you prefer something closer to the original, PSO Blue Burst for PC has an active and strong community.
Thank you once again for your loyalty to Phantasy Star Online.