How about the club get ahead of this story and avoid the bad publicity by producing a special commemorative pennant, which they can say was inspired by the many wonderful gifts they received from fellow premier league clubs when celebrating 100 years in the top flight. They can give them it at the pre-match handshake instead of the guard of honour, which they say is better for the players as it safeguards them from getting injuries due to spending too long messing about before kicking off.
No-one can say the achievement isn't being marked, the crowd aren't subjected to a farcical pantomime of respect, health and safety is paramount and smarter journalists will pick up on the 100 years celebration reference.