IT is not too grand a statement to make, but without the academy, Wanderers might have gone out of business in the last couple of years.

Had it not been for the cash raised by the sale of Zach Clough and Rob Holding in successive transfer windows, who knows how bad things would have got?

Both were bitter pills to swallow at the time. The debate rages on over whether the Whites got a good price, or whether they sold the family silver to Nottingham Forest and Arsenal on the cheap. But at Lostock, the conveyor belt just kept on rolling.

Hundreds, if not thousands, of man-hours went into the shaping of Clough, Holding, Josh Vela and countless other young footballing careers. The science is by no means exact, and the hit-to-miss ratio is frightening.

When you get it right, however, there is no greater feeling than watching one of your own run out on to the pitch.

Illustrating just what an excellent job Jimmy Phillips and his staff at the Wanderers’ academy are doing, the Premier League ranked it top of all 72 Football League clubs in an updated study released this week. In fact, only one club – understood to be Chelsea - rank higher in the top flight.

Considering the vast fortunes poured into youth systems at that level, it is quite staggering that Wanderers should be mentioned in the same breath.

Back when former chairman Phil Gartside took the decision to step down from a category one academy, saving a small fortune after relegation, there was a widespread concern that standards would drop.

Jobs were lost, and the distances Wanderers could scour for talent were reduced. Yet the fears were unfounded.

It is to the testament of the people who remained that they adapted, and in fact strengthened Bolton’s reputation locally and nationally for producing talented young footballers.

Dropping a step further to category three was discussed the summer before last – but rejected vehemently by Ken Anderson. With considerable help from the BWDA and lotteries, improvements were made at the training ground to enable Wanderers to maintain category two status, and I think that decision ranks among the best made by the chairman in his near two-year tenure.

There is hushed talk of a golden generation of young players bubbling under the surface at Bolton, some name-checked by Phillips this week. The likes of Jake Turner, Dennis Politic and Luca Connell have already worked with the first team at a tender age – and it is vital they receive the best possible help to push them the extra step.

David Lee and Tony Kelly’s Under-23s top their league, as do Nicky Spooner’s Under-18s. And it is encouraging to know that men steeped in Wanderers tradition will be responsible for the most crucial years of those players’ development. Equally, fans have to trust them to know when to push them into the spotlight.

Not a week goes by when a supporter does not complain that one of the players who has caught the eye in the development squad should be drafted into the first team. The jump is considerable – and it must be appreciated that Phil Parkinson and his staff are in continual dialogue with those in the youth ranks.

Players are cherry-picked to train alongside the seniors before they get anywhere near a substitute’s bench. And it is at close quarters that proven football coaches can say when a player is ready, and when he is not.

All that being said, Wanderers have to give their young players a sense of progression. Too many talents have been lost to the system because they have stagnated at reserve level when they could have been moved on to perfectly good careers elsewhere.

Loan spells are worth their weight in gold for a young player. Just ask Josh Vela, who earned his spurs in a relegation battle at Notts County before returning to the Macron Stadium a man.

Turner, Politic, Connell, and others may have to brave the wilds of Conference North before they get a taste of the big time, but it will do them no end of good.

The Premier League study reinforces what most of us already knew: Wanderers are getting it right at academy level. They have produced some good players in recent years with the promise of more to come.

Congratulations to all involved.