Berne - Southampton have the most profitable youth academy among the clubs in Europe's so-called five big leagues, according to a study published on Monday.
The Swiss-based Centre for Sports Studies (CIES) said Southampton had generated €90.2 million from the transfer of players from their youth academy, including Adam Lallana, Luke Shaw and Calum Chambers, since July 2012.
They were followed by Ligue 1 club Lille (€76 million), La Liga pair Real Socieded (62.2 million) and Sevilla (€51.5 million) and Bundesliga club Borussia Dortmund (€43.5 million).
Real Madrid were sixth (€43 million), Barcelona seventh (€38.3 million) and Bayern Munich a modest twelfth (€31.1 million).
Genoa were the best-placed Serie A team at 15th (€24.5 million).
The fees received by Southampton represent almost 40 percent of the total incomes of current Premier League clubs for the transfer of club-trained footballers, the study said.
"Southampton is an outstanding example of how youth training can constitute a key competitive advantage both sportingly and economically," said CIES.
At league level, French Ligue 1 clubs generated the most transfer fees for youth academy players (€292 million) and Serie A clubs the least.