The fall-out from Thursday's announcement that the Premier league had passed the Elite Player Performance Plan - effectively making it easier and cheaper to poach young talent - is likely to roll on for some time.

And Palace chairman Steve Parish has made his feelings known on the subject.

"Football League clubs took their 30 pieces of silver," he told The Sun.

"As far as the Premier League is concerned, we're here for their benefit. Are we meant to spend all our time and money finding talent and educating kids, only to give them to Chelsea?"

The deal means the compensation paid to cubs who nurture talent - like Palace and their hugely successful academy - will be vastly reduced and the days of a team like Arsenal playing £16m for a Theo Walcott will be long gone.

Indeed, former Eagles chairman Simon Jordan was up in arms over what he saw as the paltry £750,000 the club received for John Bostock in 2008, but under the new rules Palace would have got just £130,000.

The Premier League threatened to withhold a yearly £5m payment that trickles down through the Football League if the clubs did not agree to the deal.

"This penalises clubs who try to develop talent," Parish added. "The top clubs are going to stockpile as many kids as they can — and when they don't make it they'll sell them back to us. This is about turning academies of the top clubs into businesses.

"I've heard it'll be good for England but that's a deluded view.

"Do you think Man United, Chelsea and the Premier League are going to war so they can have a successful England team? Come on."

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And here's FYP editor JD's song on the whole damn thing...