In 2024, English football clubs dominated the list of the most expensive squads in Europe, with nine out of the top 20 being from England. A recent report by UEFA reveals Chelsea's squad as the costliest ever assembled, valued at an unprecedented €1.66 billion (£1.39 billion). This surpasses Real Madrid's previous record of £1.12 billion set in 2020. The report highlights a trend of increasing investments in football, with significant expenditures on players and infrastructure.
UEFA's European Club Finance and Investment Landscape Report uncovers that four clubs boast squads worth €1 billion or more: Chelsea, Manchester City, Manchester United, and Arsenal. Manchester City holds the second spot with a squad value of €554 million (£464.5 million), while Paris Saint-Germain (PSG) leads in squad value among non-English clubs at €658 million (£551.7 million). Notably, Chelsea's financial commitment stands out as the most substantial globally.
The report further indicates that four clubs—Real Madrid, Barcelona, Everton, and PSG—each invested over €100 million during 2023. Additionally, a record number of 36 clubs invested at least €10 million each, a significant increase from the previous year's 18 clubs. This surge in financial activity coincides with record-breaking investments in stadiums across all clubs, reaching €2.1 billion (£1.8 billion) in 2023.
The financial landscape of European football is undergoing substantial changes. Nine English clubs featured prominently among Europe's top 20 based on total wage bills. However, the share of revenue absorbed by wages varies significantly, with Tottenham at 42 percent and Aston Villa at a striking 91 percent. Player wages grew by 4.5 percent among early reporting clubs for 2024 compared to 2023.
"While most clubs appear to be managing player wage increases responsibly, other costs are rising rapidly, putting greater pressure on operating margins than ever before."
— UEFA president Aleksander Ceferin
In response to these rising costs, UEFA plans to implement new squad cost rules next season. These regulations will limit spending on player wages, transfers, and agents' fees to 70 percent of a club's revenue. The report also highlighted double-digit wage growth in 16 out of the 20 leagues examined, reflecting increased financial pressures.
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