| Updated: September 4, 2025The football world’s balance of power has shifted yet again after another record-breaking transfer window in the summer of 2025. While the financial gap between the richest clubs and the rest continues to widen, this year the spotlight fell not on a mega-transfer, but on a flood of new arrivals. With Paris Saint-Germain finally lifting their first Champions League trophy in historic fashion, Tottenham ending decades of European frustration, and Manchester United recording their lowest ever league finish, the dynamics at the top of the game have never been more volatile. This Sportingpedia report examines how the latest transfer activity, squad investments, and on-field achievements have reshaped the hierarchy of football’s most valuable teams.
One of its most curious insights is that now seven squads are valued at over €1 billion, a drastic jump from three last September. Real Madrid remains the team with the highest estimate at €1.4 billion, chased by a trio of Premier League sides in Arsenal, Manchester City and Liverpool.
Billionaires Club – The Football Teams with Squad Market Value Surpassing €1 Billion
Data Source: Transfermarkt
Real Madrid further cemented their reputation as football’s premier financial powerhouse, ending the season with a squad valued at €1.40 billion, up €60 million from last year. Their campaign featured a runner-up finish in La Liga and a semi-final berth in the Champions League, a level of performance matched by few. This dominance was underpinned by aggressive investment in talent, with €167.5 million spent on transfers and just €2 million recouped from outgoing players.
Arsenal’s meteoric rise continued as their squad value jumped by €160 million to reach €1.33 billion. Building on a second-place finish in the Premier League and a run to the Champions League semi-finals, Arsenal were the second biggest spenders of the summer window, investing €293.5 million while bringing in only €10.3 million from sales.
Manchester City saw their squad value fall by €40 million to €1.22 billion, as the club concluded the season third in the Premier League. Pep Guardiola’s team had a disappointing Champions League campaign, crashing out at the play-off round in February. Their transfer activity reflected a more measured approach, spending €206.9 million and earning €70.5 million from departures.
Liverpool completed a triumphant return to the top by securing the Premier League title, while their squad value surged by €197 million to €1.12 billion. The Reds were the most active in the market among Europe’s elite, spending €481.9 million and recouping €219.5 million – a sign of ambition that paid off with domestic glory.
Paris Saint-Germain delivered the biggest leap of all, their squad value rocketing by €237.3 million to €1.12 billion after capturing their first-ever Champions League title with a historic 5-0 win over Inter. PSG’s summer saw €103 million invested in new talent, while €64 million was brought in from outgoing transfers, strengthening an already star-studded roster.
Barcelona’s resurgence was nearly as dramatic, with their squad value climbing by €235 million to €1.11 billion. On the pitch, the club achieved a domestic treble, winning La Liga, Copa del Rey, and the Super Cup. Barcelona went throughout the summer transfer window without lavish spending, as just €27.5 million went out and €23 million came in. The emergence of Lamine Yamal, now the most valuable football player in the world at €200 million (18% of the entire squad), became a symbol of Barcelona’s renewed dominance.
Chelsea’s squad value rose by €104.8 million to €1.08 billion, buoyed by their Europa Conference League and FIFA Club World Cup triumphs. The London-based club continued its high-volume approach in the market, spending €328.15 million and nearly matching that figure with €332.25 million in sales.
The Chasing Pack – Sub‑Billion Clubs by Squad Market Value
Data Source: Transfermarkt
Bayern Munich retained their position among Europe’s elite, with a squad valued at €907.5 million, down €36.15 million from the previous year. Their latest Bundesliga title and a run to the Champions League quarter-finals were supported by €88.8 million in spending and €98.95 million in player sales.
Tottenham enjoyed a remarkable season, struggling domestically but lifting the Europa League trophy and increasing their squad value by €120.6 million to €891.1 million. Spurs spent €210.6 million on signings and earned €41.5 million from player departures, making a decisive push back toward Europe’s elite.
Manchester United endured a disastrous campaign, dropping €109.15 million in squad value to €748.2 million and finishing a club-record low 15th in the Premier League, missing out on all European competitions. Despite heavy spending of €250.7 million and €74.2 million received from sales, the club’s reputation and value were severely hit by their on-pitch collapse.
Inter maintained their place as Italy’s top side, reaching the Champions League final and finishing second in Serie A, which drove their squad value up to €707.8 million – a rise of €34.5 million. The Nerazzurri spent €92.7 million and recouped €48 million, reinforcing their core with targeted additions.
Newcastle United consolidated their position among the continent’s richest squads, climbing to €659.05 million after finishing in the Premier League’s top five. The Magpies ensured Champions League football in 2025/26 but lost Alexander Isak to Liverpool in this summer’s biggest transfer saga. With €288.85 million invested in the squad and €175 million brought in from sales, Newcastle’s trajectory remained upward under ambitious ownership.
Atletico Madrid, with a squad now valued at €627.8 million (up €98.3 million), capped their season with another top-four La Liga finish but failed to impress in the Champions League. Their market activity included €176 million spent and €68 million received, underpinning a steady presence in both Spanish and European football.
Nottingham Forest saw a major leap in value, their squad now worth €589 million after a strong Premier League campaign and narrowly missing on Champions League football. The club spent €236.9 million on new talent and brought in €124.4 million through sales, signalling intent to become a mainstay in the top flight and European competitions.
Juventus finished third in Serie A and had a below-par Champions League experience, losing to PSV in the play-offs. The Bianconeri maintain a squad value of €582.7 million, down €10.35 million from last year. The Turin giants spent €137.3 million and earned €84.5 million in the transfer window, continuing their cycle of renewal.
Aston Villa ended the Premier League season in sixth and had a memorable Champions League campaign, reaching the Champions League quarter-finals. Their squad value fell by €47.45 million to €547 million. Villa were notably conservative in the market, spending only €30 million while receiving €55.15 million, keeping the club’s finances stable.
AC Milan’s transitional year resulted in a €103.21 million drop in squad value, settling at €497.8 million after a mid-table Serie A finish and missing out on European football. The club spent €164 million on arrivals and recouped €169.3 million from departures, as the Rossoneri squad was reshaped for future challenges.
Napoli enjoyed a championship season, securing the 2024/25 Serie A title under Antonio Conte. Their squad is now valued at €496.35 million – a €35.05 million year-on-year decrease. Napoli’s transfer balance of the past transfer window was positive, with €115 million spent and €126.65 million received.
Brighton’s squad value decreased by €59.4 million to €484.1 million after slipping down the Premier League table, but their transfer model remained profitable: €80 million spent, and €155 million received. The Seagulls are now part of Europe’s highest valued teams.
Atalanta round out the top 20 with a squad valued at €449.1 million, a decrease of €18.4 million since last September. They finished 3rd in Serie A and ended in 9th spot in the group stage of the new Champions League. The club invested €125.8 million and brought in €107.5 million from sales, reflecting their continued commitment to growth.