Indeed, if home-grown means "must have spent three years at an FA-affiliated club while under the age of 21. " then as you say, clubs may well look for 16-17-18yo foreign talent... but that is a pretty risky long-term plan, which wouldn't help if they introduce this next year.
So home-grown means "must have spent three years at an FA-affiliated club while under the age of 21. "
"The initial proposal is for a minimum of nine home-grown players to be included on each team-sheet next season, a figure that could rise to 11 in subsequent years."
How would that leave...