i think this will effect the England National squad the most
seeing that alot of foreigners will play their trade at the EPL good for the league yeah but what about the youth squad the players won't get much chances
for example if Man City sign Kaka, Buffon etc
player like Micheal Johnson won't get to play and Man City have produced many good players eg. Ireland, Richards, Hart, Onuoa, Stugride etc
Its over for the NATIONAL squad if all the teams have foreign players
as you can see the top countries that continuously preform are those that have majority of their top division filled with players of their country
example: Brazil; the league is mainly Brazilian players and look at the players they produce, same with Argentina, Spain, Itay, Germany, Holland.
Soon you'll see England without upto 3 British starter in any team in the EPL and no British coaches, no owners and even the league changes names the possibilities are endless