[quote author=spider-neil link=topic=44132.msg1282972#msg1282972 date=1297342486]
the perception is if none of the reserves makes it to the first team then the reserves are a waste of money. that's not true, if we are buying kids building them up and selling them for a profit then the reserves has it place.
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plus it's just the very obvious and, imo, acceptable risk a club bears when investing in youth: footballers' development is unavoidably risky given the many imponderables determining any one player's chances of fulfilling their potential. the logic is that if you, for example, invest in 20 players at £1m each, then 10 will fail and draw nominal fees (say £2m in total), 6 will become adequate players but not of the required level and attract fees of perhaps £6m in total, 2 will reach their potential and be useful assets worth approximately £5m each, and 2 will exceed expectations and become very useful long-term assets worth, say, £10m each.
that would give a theoretical 'profit' of £18m (£38m - £20m) from a £20m outlay.