A new study has revealed the most expensive squads in world football and the results will certainly leave some football fans shocked.

After a hectic summer transfer window - which saw Premier League clubs spend more than £1.75billion on new players - plenty of star-studded squads have been assembled.

European giants such as Real Madrid, Bayern Munich and PSG also delved into the market to make some crucial additions for the upcoming campaign.

Now, thanks to analysis gathered by CIES Football Observatory, these squads have been put into a definitive list to show which team have spent the most on their side.

Interestingly, Premier League champions Manchester City fall short of top spot and, instead, find themselves third with a staggering total of £856million (€1.017b).

Just ahead of City are local rivals Manchester United who, despite their early struggles, have assembled a squad worth £874million (€1.038b) for the season.

The Red Devils made over £200million worth of signings during the summer, with the likes of Leny Yoro, Manuel Ugarte and Matthijs De Ligt all joining the club.

Sitting in top spot, however, are City and United's league rivals Chelsea. After yet another summer of spending, the Blues' squad is currently valued at £1.06billion (€1.28b).

Since Todd Boehly arrival at Stamford Bridge in 2022, the west London giants have spent a total of £1.2billion on new players - including over £200m this summer.

Rounding off the top five are north London rivals Arsenal and Tottenham, who are placed fourth and fifth respectively.

The Gunners boast a squad worth £672million (€798m), while their local rivals have a squad valued at £663million (€787m) as they head into the new campaign.

Breaking the Premier League trend are French giants Paris Saint-Germain, who's squad are worth a staggering £650million (€772m) - despite Kylian Mbappe's exit.

The Parisian side are narrowly ahead of both Liverpool and Real Madrid - who Mbappe left France to join - who are valued at £619million (€735m) and £606million (€720m) respectively.

Liverpool's place so far down the list - in comparison with their compatriots - is likely due to the expiring deals of Mohamed Salah, Virgil van Dijk and Trent Alexander-Arnold.

Interestingly, Atletico Madrid - who made the largest transfer of the summer in Argentinian forward Julian Alvarez - sit 12th with a squad value of £418m (€496m).

Looking away from Europe's top five leagues, Al-Hilal, worth £420million (€485m), remain the most expensive squad.

The Saudi Arabian club leads a trio of compatriots, including Al-Nassr at £235million (€270m), Al-Ittihad at £197 million (€226m) and Al-Ahli at £195 million (€224m).

In South America, Flamengo holds the top spot with a valuation of £181million (€208m). The Brazilian club significantly outpaces Botafogo's squad value of £74million (€85m) and Palmeiras' £67 million (€77m).

In total, 19 countries are represented in the top 100, with a maximum of 24 clubs for England (the 20 Premier League sides and four teams from the Championship).

Championship side Middlesbrough rank in at 100th on the list, with their squad value of £54million (€65m) enough to make the list.