I ended up implementing this using Harry’s smart socket idea and it works great. Smart socket is mandatory anyway because 10W parasitic drain is unacceptable.
I implemented it by creating a media player template for my logitech speakers where ‘turn_on’ first turns on the socket, waits a second or two, then send an IR signal to turn on the speakers. ‘on/off’ state for the media player template is implemented via a template binary_sensor based on the consumption with a threshold of 20W.
To turn off I just configured the media player template’s ‘turn_off’ to send the IR signal to the speakers and created an automation to turn off the socket triggered by the media player template transitioning from on to off state. The nice thing about the automation is that I can just power off the speakers with the remote and the socket will switch off when it detects the power consumption drop.
So thanks for the idea Harry