Atlético have an academy. They famously shut it down at some point, which meant they lost none other than Raúl to Real Madrid, where he became a club legend and one of the most prolific goalscorers of all time.yeah i guess that is true. I'm confused if athletico madrid don't have an academy then where do their youth players like torres come from.oO)
OP: It has to be Barcelona, although many have very good academies. Obviously Real Madrid but also Bilbao, Atlético Madrid, Sevilla etc.
The list of Barcelona cantera alumni is mindboggling.. it's so consistently producing top, top quality players at an alarmingly frequent rate.
http://en.wikipedia.org/wiki/FC_Barcelona_Atlètic#Selected_former_players