Only players who are both under-21 and club-trained are exempt.
Couto and Echeverri are already out on loan. That leaves 4 spots for Phillips, Cancelo, Perrone, Stevanović, Kayky, Knight, JWE and Kaboré. The other 4 will have to be sold or stay at the club.
Well, tricky question. So I checked Chelsea's players out on loan last season, 15 altogether:
https://www.givemesport.com/how-chelsea-on-loan-players-are-getting-on/
11 of those 15 were NOT club trained.
10 of 15 were born 2002 or younger, so U21 then.
Only 4 of 15 were BOTH club trained AND U21.
As a consequence, all players must be exempt that are club trained OR U21. FIFA wording is:
"Players aged 21 and younger and club-trained players will be exempt from these limitations.
https://inside.fifa.com/about-fifa/...leases/fifa-to-introduce-new-loan-regulations
And it makes sense, as FIFA wanted to avoid hoarding of players in loan armies instead of developing them in a local academy.
Chelsea mostly sent kids directly on loan,
City mostly kept them in EDS til they qualify as club trained before making loans to get more minutes. In that way FIFA reward clubs to produce club trained kids to be exempt from the loan player list later on.
For us it now would mean that:
Cancelo, Phillips, Couto, Kaboré and Stevanovic would be one of max 6 loan players,
JWE and Knight would be exempt as club trained,
and Perrone and Kayky might be exempt - if they are U21 per definition, as they are born in 2003
but already have turned 21 in the just finished season. Are they under 21?
Worst case we would have to get 1 player off the list,
and maybe the case is closed if Kaboré leaves on a permanent.
What do you think,
@Cozmo Bozo ?