Crystal Palace co-owner Steve Parish admits they turned down Leicester City star James Maddison as a junior.
Parish said their new academy would also give a structure to stop missing out on players like Maddison who was offered to Palace when he was at Coventry.
“The manager said: 'He is not going to help me now, what am I going to do with him then?'" the chairman recalled.
“We get offered every player so you are in a permanent state of kicking yourself.
"Our scouts favoured (Ademola) Lookman at the time."