The new 25/8 rule in Premier League

Premier league has introduced a new rule this season. There has been a fair amount of discussion on this with the experts divided in their opinions.
Lets have a look at what is .

The letter of the law states this :

• From the 2010/11 campaign, the 20 Premier League clubs have voted to introduce measures which will see all teams required to have 8 home-grown players out of a squad of 25.
• As of next season clubs will be required to have a squad named of up to 25 players, of which no more than 17 can be over the age of 21 and not home grown.
• The definition of home grown is trained for 3 years under the age of 21 by somebody in the English and Welsh professional system.
• Clubs will have to declare their 25 at the end of August when the window shuts and then again at the end of January.
• Players who are aged under 21 are eligible over and above the limit of 25 players per squad.

Many experts have come down hardly against this rule with Arsene Wenger saying this :

"The rules they decide are a disaster for this country. Ridiculous. They are all artificial and have nothing to do with top-level sport.' Wenger, who has introduced the likes of Thierry Henry, Patrick Vieira and Cesc Fabregas to the Premier League during his 14-year spell with Arsenal, continued: 'You have as many foreign players in Spain as in England. You can sign players from all over the world in Spain. Why do they still produce players and we do not? It's down to the coaching." 
 
The premier league chief Scudamore replied
"In some ways I agree. For 12 years I argued for an open system. But there is a point at which you have to do something for the greater good. What we're trying to do is get young players through."

The effect of these rules still remains to be seen ...