Probably a controversial opinion but for me, the point of the modern Academy shouldn't really be produce players for the first XI.
The chances of THE best player, or even a 'top 10' player, in THAT position coming through your Academy and perfectly suiting your style of football as an ELITE side are very slim.
For example, Manchester City have Phil Foden, who starts about half of the time, and Liverpool have TAA. They are the only two Academy products who start in the 'best XIs' of those sides.
A realistic objective for the Academy should be to produce players who fill out the 23. So you might expect to produce a 2nd choice GK, or a 4th choice CM, or a 2nd choice wide-forward, for example. This saves you money buying these players in and creates a pathway into the team for the younger lads.
However, for me, in modern football, the primary role of the Academy should be to 'farm' players to sell to other clubs. Now, we have done this very, very poorly in recent years. Primarily because of this old-school philosophy SAF had that we somehow owed these lads a chance to kickstart their careers, meaning we'd let them go for little to no money.
That kind of romanticism might have been fine in the 90s/early 00s but it isn't any longer, particularly with the fees some of these lads go for. We only have to look at some of the fees paid or quoted for lads we have produced to see we are missing out massively. Drinkwater won a league title and then went to Chelsea for £50m. Micheal Keane went to Everton for £30m. We've seen decent fees paid for the likes of James Chester, Ryan Shawcross and Sam Johnstone, plus their are literally 50 more we could all name that are playing in England's top two divisions and top leagues in Europe.
What would our net spend look like if we had maximised the value of these lads, like Liverpool do? What would our net spend have looked like had we been smarter with the likes of Dean Henderson, Scott McTominay, Adnan Janujaz and Marcus Rashford?
For me, the process is simple. IF they are not considered talented enough to play for the first team by the time they are 18, then it should becoming all about marketing them. Get them on 'soft loans' to clubs in leagues were they can pad their stats. Build some hype about them. Give them the odd few minutes in a couple of dead-rubber games, or games that are done and dusted.
Then, we should look to sell them with a buy-back clause inserted. That way, if ever they do really hit the heights, we can just bring them back, The chances are, we never would though. Would we bring back Henderson, McTominay, Rashford or Janujaz now, had we sold them all at 21? Very doubtful.
Harsh, I know. Perhaps not what some fans want to hear. Ultimately though, I think we would be a much better team for it, as the funds can then be used to buy players who genuinely are elite or suited to our system. Plus, arguably it's actually better for the young lads. All of these loans can't help their careers. Look at Tuanzebe. Look at Lingard. Who knows? Both could have been top PL players, had they been moved on earlier.