The 20 most expensive squads in Europe in 2023 - ranked

Manchester United have built the most expensive squad in history according to the latest report on the finances of European clubs.

UEFA's European Club Finance and Investment Landscape study revealed United's squad at the start of 2023 cost a whopping €1.422bn to build, breaking the previous record set by Real Madrid in 2020.

That figure does not include the money spent on players during the 2023 summer transfer window, in which United spent big on Rasmus Hojlund, Mason Mount, Andre Onana and Altay Bayindir.

The only other squad worth close to that figure belongs to cross-town rivals Manchester City. The European champions' squad comes in at a cool €1.286bn, and that's without adding Josko Gvardiol, Matheus Nunes and Jeremy Doku to the books.

It's an all-English top three with Chelsea picking up the bronze medal with a squad worth €1.084bn, although the financial data for the Blues is only available for 2022.

Real Madrid are the fourth and final squad worth over €1bn. Despite being quiet in the transfer market for a while, Madrid finish with a squad worth €1.031bn - a figure that will soon rise after the signings of Jude Bellingham, Arda Guler and Fran Garcia.

Paris Saint-Germain come in fifth at €938m, narrowly ahead of Liverpool, who recorded a squad worth €905m before Jurgen Klopp brought in Dominik Szoboszlai, Alexis Mac Allister, Ryan Gravenberch and Wataru Endo.

With €890m spent on their squad, Arsenal take the next spot on the list, well clear of Juventus, the first Italian team to feature on the list. Juve are on an island of their own with a €769m spend.

Rounding out the top ten are Tottenham Hotspur (€666m) and Inter (€589m).

Barcelona sit 11th with a squad built for €576m, while the influx of Saudi Public Investment Fund finances have propelled Newcastle United right up the standings with a squad priced at a cool €543m - marginally ahead of Bayern Munich (€534m).

Aston Villa (€500m) and West Ham United (€443m) are the other Premier League sides to spend their way to a spot in the top 20.

Top 20 most expensive squads in 2023

*data only available from 2022

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