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The players who have won deals are central defenders Nik Kudiersky and Chris Lynch, central midfielders Alex-Ray Harvey and Chris Anderson and striker Wes Fletcher. Ben Hoskin, who has missed much of the season with a stress fracture has been given a short term deal to prove his fitness.
The players who will be leaving us are Dan Brown, James Craggs, Dil Chaggar and Stef Ritchie and there's no doubt that everyone who has seen the youth team play this season will be wishing them the very best as they look to further their careers elsewhere.
Martin Dobson, the club's Director of Youth Development, said this afternoon: "I am delighted for the five players who have been offered contracts. They have worked particularly hard and deserve a contract.
"I have only been here since September and quite a few of these lads have been at this football club for many, many years. They know the club inside out, their loyalty is with this club and hopefully they will go on to have wonderful careers here.
"Having said all that, and as pleased as we are at the five who have been offered contracts, we genuinely feel for those who haven't. They have all put their hearts and souls into it and, having been in this situation myself as a young professional back at Bolton, I know it is not a nice feeling.
"We are acutely aware of their disappointment and I have to say it was a tough call. It is all about opinions and we deliberated for a long time on every player. They all have their positive aspects and we would all like to think they will be given another chance somewhere else.
"Certainly the club will do all we can to make that happen because each and every one of them has been an absolute credit to themselves, their parents and the football club and we wish them well in their future careers."
A massive well done to the five lads who have won deals from Clarets Mad, and I repeat our best wishes to those who will be leaving us. You have all been a pleasure to watch in this season's youth team and an absolute credit to our football club.
The player pages for those who have won contracts have now been added to the Past/Present Players section of the site.