Manchester City have the first €1billion squad according to analysis done by the CIES Football Observatory. The Citizens have shelled out €1.014 billion (£906m) on their current crop of players.

The next English club on the list is Manchester United, who came fourth with a value of €751m. Premier League title rivals Liverpool are seventh with their players costing €639m.

Chelsea’s squad cost €561m and they are just behind the Reds in eighth place while Arsenal round out the top 10 with the Gunners’ players costing €498m.

CIES Football Observatory looked at the top five European leagues and assessed each squad to determine their valuations. City’s valuation isn’t a surprise but it does show you the level of investment that the Abu Dhabi Group have been prepared to put into the club.

After winning four trophies, including the Premier League, FA Cup, Carabao Cup and the Community Shield last season, the money has been put to good use.