Apart from any Welsh rugby stadia, this has been the club song at Stoke City (my local team) for over forty years.
OK, they sing a slightly (ahem!) amended version, but I can honestly say I have never thought of it as advocating violence of any kind.
Banning it will simply mean that Hughes's Barmy Army will sing it even louder (if possible, they are recorded as the loudest supporters in the country already!) so really, I think this MP is on a total loser here.
You can look for hidden meanings in anything if you want - is saying 'Send Her Victorious ...' in the National Anthem war-mongering?
Where do you stop?