Manchester City have assembled the first billion euro squad, says a report by the CIES Football Observatory.

City, who have benefitted hugely since the Abu Dhabi group takeover in 2008, spent (1.014bn/£906m) on their current players with Paris St-Germain (913m euros) and (902m euros) in second and third.

The champions’ squad is worth 32 times the value of Norwich’s.

Manchester United have the second most expensive English squad (751m euros).

CIES, the football statistics research group based in Switzerland, looked at the senior players in each team in all four of ’s biggest leagues – , , and .

Paderborn, promoted to the German top flight in the summer, were found to have the cheapest squad, valued at 4m euros (£3.57m).

The top 10

Club / squad value in euros

1. Manchester City – 1.014 billion

2. Paris St-Germain – 913m

3. – 902m

4. Manchester United – 751m

5. Juventus – 719m

6. – 697m

7. Liverpool – 639m

8. Chelsea – 561m

9. – 550m

10. Arsenal – 498m

Selected others

11. Everton – 486m

12. – 465m

19. – 312m

21. West Ham United – 259m

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