Here is my take on this:
Firstly, ask the "legal team" to explain to you what a cookie is, and how that law protects users. Remind the "legal team" that the out-of-touch "politicians" who made that "law" didn't actually understand what a cookie is either, what a cookie shares around, and therefore didn't understand how futile their "law" would be at protecting anything/anyone's privacy whatsoever.
Secondly, show the "legal team" this: http://arstechnica.com/tech-policy/2016/07/tech-industry-gangs-up-on-european-commission-calls-for-cookie-law-to-be-scrapped/ and imply to them that this "law" is not going to stick for much longer, mostly because of the first reason mentioned above [incompetatant polititions].
A link takes like 10 seconds to implement and it's buried way below the fold. No one cares anyways, and the only reason they click "I agree" on popups/bars is to get it out of their face [viewport]. Better to convert
(+$$) then to annoy visitors
(-$$). Legal teams, spending time/cash, and annoying visitors means this:
(---$$) which is surely what your company doesn't want to do.