Do they actually want to limit it by nationality or by products of your academy?
Last I heard it was linked to the academy and even Cesc qualifies as home grown on that basis.
Out of interest, why do you think it's a good move?
If you're good enough, you get in the team no matter your nationality. If teams are forced to play English players as opposed to simply wanting to, surely the price of English players will rise even further. The teams that don't have �10m-�30m to spend on good English players will be forced to play mediocre ones which will impact the league and still wont benefit the national team.
All I can see happening is the best English players going to the top clubs (oh wait, that already happens), mediocre English players perhaps getting more chance in the "lesser" teams and still not getting a game for England. Yes you might improve some players by giving them more opportunity to play regular Premiership football with better players. But, if they don't have the talent to be world class, they won't help England much and, if they do, surely they would have gotten in a Premiership side anyway?
It's no shock Sir is quite happy with this idea as he's happy to pay silly money for English players and it will help to further distance Manure from the majority of other clubs. Not sure why he thinks we'd be so upset though. Our academy is producing English players with talent and we make more money than Manure (so we can afford to ninja the best players from other teams too) whilst his reserves can't even beat Coventry in the Carling Cup