Man City and Man Utd top list of biggest squad values in Europe above Liverpool

Manchester City and Manchester United top the list of biggest squad values from Europe's top five leagues, with Liverpool only sixth.

The CIES Football Observatory has revealed that both Manchester clubs, who have unsurprisingly also invested the most in players, boast the biggest transfer value if they were to be listed on the market at present.

Tottenham Hotspur also pip Arsenal in the rankings, with seven Premier League clubs in the top 20, four of which make up the top six spots.

Pepe Guardiola and Ole Gunnar Solskjaer 's star-studded sides both breach the €1 billion mark above Chelsea 's roster, worth an estimated €946 million in third place.

Man Utd re-signed Ronaldo this summer ( Image:

REUTERS)

Although City made one major signing during the summer transfer window, it was the English-record addition of £100m man Jack Grealish.

United, on the other hand, brought in ex-Citizens starlet Jadon Sancho for £73m, signed Raphael Varane for £36 plus add-ons, before bringing Cristiano Ronaldo back to Old Trafford for £12.86m.

Chelsea's £97.5m re-signing of Romelu Lukaku added to their £200m-plus outlay in 2020 following their transfer ban.

Despite their well-documented financial issues, Barcelona take fourth with a value of €896m, while Bayern Munich 's €890m puts them above Liverpool.

Liverpool and Man City met on Sunday for a 2-2 draw but over €300m separates their squad values

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Jurgen Klopp 's men's total of €868m narrowly (at least in elite football financial terms) puts them ahead of Real Madrid, and strikingly, Paris Saint-Germain.

Skip down to 13th and there is just €5m to separate Nuno Espirito Santo 's Tottenham squad and what Mikel Arteta has at his disposal with Arsenal, who sit 14th.

Both clubs had busy summers, with Spurs signing five players for a total of £98 million.

Meanwhile, the Gunners splashed £140m on a quartet of new arrivals, a large chunk of which was on England centre-back Ben White for £50m.

Leicester City's €480m value sees them in 17th, above both Milan clubs, Sevilla and Jose Mourinho 's Roma.

It is no surprise that the Premier League is the most dominant division in the table due to the financial power of the English top-flight as a result of branding and global television deals.

Over £1 billion was spent by the league's 20 clubs across the summer months.

Business on deadline day totalled £150m, meaning Premier League clubs have now spent in excess of £1bn for the sixth successive summer.

The net player transfer spend of £560m dwarfed that racked up by La Liga (£55m), Serie A (£50m) and Ligue 1 (£15m).

The German Bundesliga, who have just three clubs on the CIES list, was the only top five European league to increase its gross spending this year.

Full list of 20 most valuable squads (CIES Football Observatory)

Manchester City €1.28bn

Manchester United €1.214bn

Chelsea FC €946m

FC Barcelona €896m

Bayern München €890m

Liverpool FC €868m

Real Madrid €846m

Paris St-Germain €808m

Borussia Dortmund €687m

Atlético Madrid €662m

Juventus FC €618m

RB Leipzig €590m

Tottenham Hotspur €568m

Arsenal FC €563m

Bayer Leverkusen €537m

Leicester City €480m

Internazionale €469m

Milan AC €434m

Sevilla FC €425m

AS Roma €415m