[Ultimate_Red_Devil]

First, the one that works in any version of FM 2007 (yes even 7.02).

Start a new game and takeover the club you want to play as. Your first day click board room -> request feeder club. DO NOT CLICK CONTINUE. Then retire. Do this as many times as you want remembering NOT to click Continue with any of the fake managers. Then when you take over with your real manager ask for another feeder club. In 12 - 18 days you'll get as many feeder club news items as you had managers.

The 2nd one ONLY works on 7.0 and 7.01 (if you have 7.02 installed and try using this, even with the 7.01 db, to the best of my knowledge it won't work).

When you get the "board has come up with some feeder clubs" newsitem. Click "make recommendation" then click news. Click "make recommendation" again, change the little button in the top to the next team in the list and click news again. Do this for as many teams as are in the list. After you've done that click Make Recommendation and choose a team. THEN click the back arrow and choose another team. (and keep doing that until you've chosen every team).

Enjoy. (And yes, both tricks work for parent/feeder clubs).