Manchester City and Paris Saint Germain are the top two most expensive squads in the world. The clubs, according to CIES Football Observatory, have spent over £700 million to assemble their current squads. While City have spent £777 million, PSG have spent £713 million.

Manchester United, Barcelona and Chelsea make up the top five with Real Madrid coming in at sixth. Liverpool are ahead of Ninth-placed Arsenal in seventh while German champions Bayern Munich are in a distant 11th, one spot below Everton, who are 10th.

See full list below:

1. Manchester City – £777m

2. PSG – £713m

3. Manchester United – £661m

4. Barcelona – £641m

5. Chelsea – £524m

6. Real Madrid – £439m

7. Liverpool – £408m

8. Juventus – £396m

9. Arsenal – £356m

10. Everton – £323m

11. Bayern Munich – £321m

12. Tottenham – £316m

13. AC Milan – £269m

14 Atletico Madrid – £263m

15. Monaco – £253m

16. Borussia Dortmund – £237m

17. Roma – £231m

18. Southampton – £202m

19. Crystal Palace – £199m

20. Inter Milan – £192m

21. Napoli – £180m

22. West Ham – £157m

23. Wolfsburg – £144m

24. Leicester – £143m

25. Sevilla – £141m

26. Bayer Leverkusen – £140m

27. Stoke – £132m

28. Valencia – £130m

29. Newcastle – £128m

30. Watford – £124m

31. Lazio + Swansea £117m

33. West Brom – £115m

34. Borussia Monchengladbach – £108m

35. Schalke – £107m

36. RB Leipzig – £104m

37. Sampdoria – £100m

38. Marseille – £99m

39. Villareal – £97m

40. Fiorentina – £94m

41. Burnley – £102m

42. Lyon – £88m

43. Bournemouth – £86m

44. Torino – £83m

45. Brighton – £79m

46. Hamburg – £78m

47. Lille – £71m

48. Huddersfield – £68m

49. Sassuolo – £66m

50. Hoffenheim – £61m