Wait...so you get to choose any club you want, literally? Or do the board give you a list to choose from? If you could choose any club you want, I would choose Southampton. Unless you are wanting to loan out your worst youth players, most of your youth will get a chance at Southampton, in the Championship (a good league to develop in) and with top facilities.
However, Crewe Alexandra (top facilities in League Two), Sheffield United (good facilities and fans in League One) and Middlesborough (good facilities in the Championship) are all good sides to have as a Feeder Club. It just depends on how many/the quality of the players you want to loan out. Hope this helped!
- PZW