Manchester United v Galatasaray A.S.: Group A - UEFA Champions League 2023/24
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A financial report made public by UEFA on Thursday revealed that the 2022-23 Manchester United squad was the most expensive ever assembled at a whopping €1.42 billion ($1.543 billion) in transfer fees, surpassing the previous record held by Real Madrid, who had spent €1.33 billion in 2020.

United, under Erik ten Hag, landed high profile South Americans Casemiro, Lisandro Martinez and Antony but finished third in the Premier League last season, 15 points off the pace. This season, they are down to sixth and already 14 points behind league leaders Liverpool.

England's growth in dominating the soccer landscape has been well documented, so it should be no surprise that the Red Devils' chief rival Manchester City, who won just about every trophy imaginable on their way to securing the treble last season, finished second at €1.29 million.

Money can't buy performance as the Premier League also featured the third most expensive squad in the world in Chelsea. Under the new ownership of Todd Boehly, the Blues compiled a squad costing €1.08 billion in transfer fees buoyed by the setting of a British transfer record to sign Enzo Fernandez from Benfica for €107 million to bolster the midfield. Six of the 10 most expensive squads in the world in 2023 hailed from the Premier League but let's take a look 

Most expensive squads (2022-23)

Team NameLeagueCost 

Manchester United

Premier League

€1.42 billion

Manchester City

Premier League

€1.29 billion


Premier League

€1.08 billion

Real Madrid

La Liga

€1.03 billion

Paris Saint-Germain

Ligue 1

€938 million


Premier League

€905 million


Premier League

€890 million


Serie A

€769 million


Premier League

€666 million


Serie A

€543 million

Most of this spending coincided with success as not only does this list include the winners of three different leagues, the Champions League winner and runner up but also six teams that qualified for those season's edition of the Champions League. Juventus would've made it seven if not for a 15-point deduction due to breaching financial rules. Most of these clubs were able to justify their spending by also being among the top revenue generators in the world with only Juventus and Inter falling outside of the top 10 in that metric. Real Madrid almost covered the entire squad cost by generating €841 million in revenue which was the top mark in 2023.

With the Premier League beginning to crack down on spending by clubs as Everton has already received one points deduction while Nottingham Forest are also under investigation and the Toffees could receive another, it will be interesting to see what happens to these figures in the future. January already saw less than expected activity in the transfer window with teams opting for loans instead of permanent purchases but the summer will show if it is a trend that's here to stay.