GK: Guzan, Bunn (2)
RB: Hutton, Bacuna, Crespo (3)
LB: Amavi, Bennett, Richardson (3-1=2 because Amavi is officially under 21)
CB: Okore, Clark, Richards, Senderos, New Guy That's Been Hinted At (5)
MC: Westwood, Sanchez, Gueye, Gardner, Veretout (5)
AM: Sinclair, Grealish, Ayew, N'Zogbia, Cole (5-1=4 because Grealish is under 21)
ST: Adebayor, Agbonlahor, Kozak, Gestede (4)
Makes a squad of 25, assuming we say goodbye to Cissokho, and Baker. Obviously if we sold e.g. N'Zogbia we could keep e.g. Cissokho.
Home-grown: Bunn, Bennett, Richardson, Clark, Richards, Westwood, Gardner, Cole, Sinclair, N'Zogbia, Agbonlahor. That's eleven, we need at least eight.
Obvious weak link here is depth in centre half. Wonder who Timmy has lined up there.
Edit: thanks, VILLAMARV!