There's a discussion going on about this issue in the Insua thread but I'll start a new thread anyway as it's a much wider issue that will affect all clubs in this country.
Despite the fact that we'd have a lot of players who would be classed as "homegrown" by the time the rule comes in, the big question is how competitive would this squad be for a full league season? Don't forget, last season we had to exclude Sami from the CL squad for the first half of the season. This year, Degen has been excluded in favour of homegrown kids. Leaving aside your opinion of Degen's ability, it seems we're having to declare a less-than-full-strength squad to comply with these rules. We've also declared our fourth-choice keeper (Paul Harrison) for the CL, rather than Gulacsi.
What happens if a team suffers an injury crisis though? Will they have a B list of players like the CL?
Anyway, it'll be interesting to see how this pans out - whether it'll create more opportunity for English players or just further increase the premium on not so great English talent to meet qualification criteria. Also, this makes the attraction of signing young players outside of qualification boundaries to gain home grown status for them more attractive. I suspect this will be an easier situation for the teams who already play in Europe to adapt to as they have been used to operating under these rules for a few seasons now. Also, the West Ham's, Villa's and Spurs' of the world will be okay due to their recruitment of English players over the past few years.
The downside will be for clubs such as Bolton and Wigan who, over the last few years, have needed to scour the globe for cheap foreign players due to budgetary restrictions. Those are the ones who, in my opinion, will struggle to meet these new regulations when they come in.
Also, if UEFA, as they propose to do, ban all transfers of players under 18 (between different Federations) then this rule becomes a major problem and the cost of young English talent will soar to even more ludicrous proportions than it already is which is worrying. If they bring it in then you can see City and Chelsea will be fighting out the title for as long as it takes for another multi-billionaire to buy into a Premiership club.
So I suppose the question as far as we are concerned is, under this new ruling, will we have enough homegrown players to build a league-winning side or do you return to the age-old problem of lack of depth in the squad?