Youth Team into the U23 Premier League

I started out with a National League team who are now flying high in the Premier League, but I don't want my U23 side to stagnate and was wondering, once a club reaches a certain stature, can their U23 side be introduced into the U23 Premier League at the expense of a lower reputation team?

In my game, there are clubs in the U23 Premier League 2 whose first team are in the Championship and never been in the Premier League. My current youth facilities are considered 'Great', and my youth level is 2.