It doesn't prevent a Fabregas scenario I agree and I feel this is an issue that has to be addressed far, far before buy-back clauses.
I don't understand why it wouldn't fall under the rules. Sunderland receiving £5m+ for the year loan of Gyan is far worse.
I understood the salary point.
But they aren't saying that at all. They are saying "you are very talented but 3-4 years away from being ready for our first team". They could either loan them out for 4 seasons straight, receiving a loan fee every year, which would almost certainly unsettle the player (particularly as it is likely that it would be to 2-3 different clubs) and his progress or just put a buy-back clause in.
I don't understand how it is anti-competitive, I think it is the total opposite. It promotes clubs investing on their academy and having faith in their younger players, even where they are years away from the first team, but far too good for the reserves.
If we had a 17 or 18 year old incredibly talented central defender for instance who was far too good for the reserves, but obviously years away physically from competing with the likes of Smalling, Vidic, Jones, Ferdinand and Evans, would 4 loan moves really be more beneficial? It might just be me, but I think the 3 loans Cleverley had to 3 different clubs in three different areas might have hampered his progress. I dread to think of all the contradictory things three coaching teams were teaching him.
You also have to bear in mind that if the player doesn't want to return to Barcelona, he just... Doesn't. If Chelsea think Romeu is that good, they could just blow Barcelona's wage offer out the window and hope that this sways his decision.