Supporters love homegrown players coming through into the first team, hailing them as 'one of their own' and the connection between club and fans.
However, Premier League club accountants also relish academy graduates – with a growing trend of selling them to generate 'pure profit' and help navigate the strict financial rules which have bitten hard this season.
Everton, Nottingham Forest and Leicester have all been hit with Profit and Sustainability Rules (PSR) breaches while clubs such as Chelsea, Tottenham, Aston Villa, Newcastle and Wolves have posted significant losses in their most recent accounts.
After Manchester City academy graduate Cole Palmer left for Chelsea in a surprise £42.5m deal last summer, could we see a flurry of similar transfers this summer?
Chelsea may look to continue re-balancing the books with player sales after a huge £1bn transfer outlay since the Todd Boehly takeover
Conor Gallagher, 24, Chelsea midfielder
Contract situation: One year left at the end of the season
Estimated market value: £68m
Linked with: Tottenham
BBC Sport football news reporter Alex Howell:
Before Cole Palmer took centre stage, it could have been argued that Conor Gallagher was Chelsea’s player of the season.
Gallagher has taken on the job of stand-in captain and has been repeatedly praised by manager Mauricio Pochettino in a challenging season.
However, that has not stopped speculation about the academy graduate's future.
At the end of the season Gallagher will be into the last 12 months of his contract. This is something the new ownership group has been trying to avoid with its biggest stars so they are able to keep the value of their assets.
Gallagher's performances have impressed senior members of the club, especially considering the investment that has been made in his position with the £106m signing of Enzo Fernandez and the deal worth £115m for Moises Caicedo.
Conversations between the club and Gallagher's agent have been ongoing and Gallagher is happy at the club, but it is understood that if a bid at the right price was to come in, Chelsea would be open to selling.
With the large outlay the club has put into the playing squad and the prospect of any European football looking unlikely, selling Gallagher would see the Blues make 'pure profit' on the deal if he were to leave the club after coming through their youth system.
Marcus Rashford is one of many players Manchester United would be open to offers for, though the club would prefer to keep him at Old Trafford
Marcus Rashford, 26, Manchester United forward.
Contract situation: Signed five-year deal to 2028 last season
Estimated market value: £85m
Linked with: Paris St-Germain
BBC Sport chief football news reporter Simon Stone:
Manchester United are open to offers for nearly all of their squad this summer, including Marcus Rashford.
Senior England international Rashford has endured inconsistent seasons in a period of his career where he should be getting into his prime. Last year's 30-goal campaign was his most prolific, followed by just eight goals this time around.
At his best, he has a combination of lightning speed and finishing power that frightens any defences. However, too often he drifts out of games and his work rate has been questioned. As one of United’s highest earners, realistically the market for Rashford is small. It seems far more likely he'll remain at Old Trafford.
Brighton's season has been disrupted by 14 separate injuries, including to highly-rated striker Evan Ferguson
Evan Ferguson, 19, Brighton forward
Contract situation: Signed new deal last year that runs to 2029
Estimated market value: £68m
Linked with: Arsenal, Chelsea
BBC Sport chief football news reporter Simon Stone:
In an era when strikers are hard to find, Evan Ferguson caught the attention of many leading clubs last term, when he was nominated for the PFA Young Player of the Year prize.
It was an outstanding breakthrough season for the Republic of Ireland international as Brighton qualified for Europe for the first time.
He has scored only six goals this season, three of which came against Newcastle on 2 September and his campaign has already been ended by an ankle injury. Nevertheless, he has time on his side and all the leading clubs are looking for strikers. The big question is, would Brighton listen if the price was right?
Kiernan Dewsbury-Hall said he has "no intention of leaving" at this week's end-of-season awards
Kiernan Dewsbury-Hall, 25, Leicester midfielder
Contract situation: Contracted until 2027
Estimated market value: £35m
Linked with: Brentford, Brighton, Fulham
BBC Sport football news reporter Nick Mashiter:
Brighton were heavily linked with Kiernan Dewsbury-Hall in January but Leicester held firm and refused to sell as they chased a return to the Premier League.
Alex Scott’s £25m move to Bournemouth from Bristol City in 2023 and Adam Wharton’s £22m transfer from Blackburn to Crystal Palace in January are likely to be the minimum benchmarks – but with Dewsbury-Hall having Premier League experience, Leicester are likely to demand more.
He has scored 12 goals in 44 appearances to help the Foxes win the Championship title and make an instant return to the top flight.
The club recorded £89m losses for 2022-23 and have already been charged over one alleged breach of profit and sustainability rules. They will need to sell players before 30 June to try to avoid a potential second charge for 2023-24 and Dewsbury-Hall is the one who will generate the most profit.
On winning player of the year and player's player of the year at Leicester's end-of-season awards on Tuesday, Dewsbury-Hall said, external: "I’ve been at this club since I was eight years old… I’ve got no intention of leaving.”
Everton's Jarrad Branthwaite has impressed this season in another relegation battle
Jarrad Branthwaite, 21, Everton defender
Contract situation: Signed a new deal in October until 2027
Estimated market value: £43m
Linked with: Manchester United
BBC Sport football news reporter Shamoon Hafez:
Jarrad Branthwaite was starring for Carlisle United in League Two at 17 years old, before Everton paid £1m and began developing him in their U23 side.
Now 21, he has been the shining light in another tumultuous season for Everton with his calm displays at the back which has led to a first England call-up.
The quick, rangy centre-back has formed an excellent partnership with skipper James Tarkowski for a side that has kept 12 clean sheets this season – the second most behind Arsenal.
With his impressive performances so far, Branthwaite will be aiming to be in Gareth Southgate’s 26-man squad for the Euros and will be a leading candidate as Everton’s player of the year.
Everton’s precarious financial position has been laid bare and selling Branthwaite for a sizeable fee this summer would go some way to easing their worries.
Aston Villa midfielder Jacob Ramsey's 2023-24 season has been curtailed by injuries
Jacob Ramsey, 22, Aston Villa midfielder
Contract situation: Contracted until 2027
Estimated market value: £34m
Linked with: Newcastle, Bayern Munich, Tottenham
BBC Sport football news reporter Nick Mashiter:
Jacob Ramsey won last season’s Premier League academy graduate award after scoring six goals in 38 games, helping Villa return to Europe and he also won Euro 2023 with England Under-21s.
But he broke his metatarsal during the tournament, an injury which has restricted him to just eight Premier League starts.
Villa have insisted he is not for sale with manager Unai Emery making his stance clear in January.
Emery said: "In the second part of the season he is going to be very, very important to us. His potential is very high, an even higher level than my expectations."
Yet, even with probable Champions League qualification bringing in extra TV revenue, selling the academy graduate would help the club in their efforts to comply with profit and sustainability after they lost £119.6m for the year ending 31 May, 2023.
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