These are the 25 most expensive football squads in the world

Manchester United has lost its status as the world's most expensively assembled football squad.

CIES Football Observatory, a football think tank based in Switzerland, has crunched years of transfer fees to construct a list of the costliest squads in the game.

Their database includes all of the movements from the summer 2017 transfer window, which had a run of record fees, including the most expensive transaction ever for Neymar.

Clubs are ranked in ascending order, with the most expensive squad at the bottom of the page.

25: Newcastle United — €162 million (£142 million)
25: Newcastle United — €162 million (£142 million)
Dwight Gayle.Getty Images
Division: Premier League, England.

Biggest asset: Prolific goalscorer Dwight Gayle joined Newcastle United in 2016 and has a current market valuation of €10.4 million (£9.15 million).

24: Bayer Leverkusen — €165 million (£145 million)
24: Bayer Leverkusen — €165 million (£145 million)
Julian Brandt.Getty Images
Division: Bundesliga, Germany.

Biggest asset: German winger Julian Brandt is one of Bayer Leverkusen's key players and is worth €39 million (£35 million).

23: West Ham United — €200 million (£175 million)
23: West Ham United — €200 million (£175 million)
Manuel Lanzini.Getty Images
Division: Premier League, England.

Biggest asset: Manuel Lanzini left UAE Arabian Gulf League club Al Jaziri for West Ham United in 2015 and is worth €34.3 million (£30 million) in today's transfer market.

22: Leicester City — €213 million (£187 million)
22: Leicester City — €213 million (£187 million)
Riyad Mahrez.Michael Regan / Getty Images
Division: Premier League, England.

Biggest asset: Leicester City bought Riyad Mahrez for a nominal fee in 2013 but could receive €53.3 million (£47 million) if it sold him this season.

20: Southampton — €223 million (£196 million)
20: Southampton — €223 million (£196 million)
Virgil van Dijk.Getty Images
Division: Premier League, England.

Biggest asset: Coveted defender Virgil van Dijk joined Southampton from Celtic for a £13 million in 2015 and is worth €40 million (£35 million) in today's money.

20: Crystal Palace — €223 million (£197 million)
20: Crystal Palace — €223 million (£197 million)
Christian Benteke.Getty Images
Division: Premier League, England.

Biggest asset: Crystal Palace bought Christian Benteke from Liverpool FC for £32 million in 2016 and the striker has retained his value as he is currently worth €37 million (£32.5 million).

19: Atlético Madrid — €231 million (£203 million)
19: Atlético Madrid — €231 million (£203 million)
Antoine Griezmann.REUTERS/Andrea Comas
Division: La Liga, Spain.

Biggest asset: Atlético Madrid activated Antoine Griezmann's €30 million (£26.5 million) release clause when the forward was at former club Real Sociedad. Now, he is believed to be worth €148 million (£130 million).

18: Napoli — €240 million (£211 million)
18: Napoli — €240 million (£211 million)
Lorenzo Insigne.Getty Images
Division: Serie A, Italy.

Biggest asset: Lorenzo Insigne is a Napoli academy product who is worth €92.3 million (£81 million) in the transfer market today.

Source: Football Observatory.

17: Internazionale — €268 million (£236 million)
17: Internazionale — €268 million (£236 million)
Mauro Icardi.Emilio Andreoli / Getty Images
Division: Serie A, Italy.

Biggest asset: Mauro Icardi left Sampdoria for Internazionale in 2013 for a transfer fee of €6.5 million for 50% of the player's registration rights. The 24-year-old Argentine could now command a €77.8 million (£68.5 million) fee.

16: Borussia Dortmund — €275 million (£242 million)
16: Borussia Dortmund — €275 million (£242 million)
Pierre Emerick-Aubameyang.Clive Brunskill / Getty Images
Division: Bundesliga, Germany.

Biggest asset: Pierre Emerick-Aubameyang left St-Etienne for Borussia Dortmund in 2013 and is now worth €80.1 million (£70.5 million).

15: AS Roma — €276 million (£243 million)
15: AS Roma — €276 million (£243 million)
Radja Nainggolan (middle).Getty Images
Division: Serie A, Italy.

Biggest asset: AS Roma plucked Radja Nainggolan from Cagliari for an initial €3 million but the he's now worth an estimated €67.5 million (£59.5 million).

14: AS Monaco — €293 million (£258 million)
14: AS Monaco — €293 million (£258 million)
Thomas Lemar.Valerio Pennicino / Getty Images
Division: Ligue 1, France.

Biggest asset: AS Monaco bought Thomas Lemar for a negligible fee in 2015 and have developed the attacking midfielder into a player worth €92.5 million (£81.5 million).

13: AC Milan — €316 million (£278 million)
13: AC Milan — €316 million (£278 million)
Gianluigi Donnarumma.AK Bijuraj / Getty Images
Division: Serie A, Italy.

Biggest asset: Home-grown goalkeeper Gianluigi Donnarumma may be young in age, at 18, but already has a huge transfer market valuation at €68.7 million (£60.5 million).

12: Everton — €348 million (£306 million)
12: Everton — €348 million (£306 million)
Michael Keane.Getty Images
Division: Premier League, England.

Biggest asset: Everton spent £25 million on former Burnley defender Michael Keane in July but the defender's true market value could be around €39.3 million (£35 million).

11: Bayern München — €350 million (£308 million)
11: Bayern München — €350 million (£308 million)
Robert Lewandowski.Shaun Botterill / Getty Images
Division: Bundesliga, Germany.

Biggest asset: Robert Lewandowski left Borussia Dortmund for its Bundesliga rivals Bayern in 2014 and is the club's most valuable player at €103.5 million (£92 million).

10: Tottenham Hotspur — €361 million (£318 million)
10: Tottenham Hotspur — €361 million (£318 million)
Dele Alli.Dan Mullan / Getty Images
Division: Premier League, England.

Biggest asset: Spurs midfielder Dele Alli cost the club a bargain £5 million in 2015 but now has a current market value of €182.6 million (£160 million).

9: Arsenal — €416 million (£366.5 million)
9: Arsenal — €416 million (£366.5 million)
Alexis Sánchez.Clive Rose / Getty Images
Division: Premier League, England.

Biggest asset: Arsenal bought Alexis Sánchez from FC Barcelona for a £31.7 million fee in 2014. The Chilean is worth approximately €90.2 million (£80 million) in today's market.

8: Liverpool — €437 million (£385 million)
8: Liverpool — €437 million (£385 million)
Roberto Firmino.David Davies / EMPICS Sport
Division: Premier League, England.

Biggest asset: Liverpool bought Roberto Firmino from Hoffenheim for a £29 million fee in 2015. The Brazilian forward is worth €93.9 million (£82.7 million) in today's market.

7: Juventus — €470 million (£415 million)
7: Juventus — €470 million (£415 million)
Gonzalo Higuaín.Maurizio Borsari / AFLO / Press Association Images
Division: Serie A, Italy.

Biggest asset: Juventus paid Napoli €90 million in exchange for its prolific striker Gonzalo Higuaín in 2016. He is now reportedly worth €119.4 million (£105 million).

6: Real Madrid — €497 million (£438 million)
6: Real Madrid — €497 million (£438 million)
Cristiano Ronaldo.David Ramos / Getty Images
Division: La Liga, Spain.

Biggest asset: Real Madrid spent €94 million (then £80 million) on Cristiano Ronaldo in 2009 and the 32-year-old still has a big market value of €102 million (£90 million).

5: FC Barcelona — €628 million (£555 million)
5: FC Barcelona — €628 million (£555 million)
Lionel Messi.Getty Images
Division: La Liga, Spain.

Biggest asset: Lionel Messi is a FC Barcelona (La Masia) academy product and has developed into a player worth approximately €184 million (£162 million) in today's market.

4: Chelsea — €644 million (£567 million)
4: Chelsea — €644 million (£567 million)
Eden Hazard.Richard Heathcote / Getty Images
Division: Premier League, England.

Biggest asset: Eden Hazard cost Chelsea £32 million in 2012 and is now the club's most valuable player at an estimated €110 million (£97 million).

3: Manchester United — €784 million (£690 million)
3: Manchester United — €784 million (£690 million)
Paul Pogba.Getty Images
Division: Premier League, England.

Biggest asset: Man United midfielder Paul Pogba cost the club €105 million (£89.3 million) in 2016 but now has a current market value of €152.7 million (£135 million).

2: Paris Saint-Germain — €850 million (£750 million)
2: Paris Saint-Germain — €850 million (£750 million)
Neymar.Reuters
Division: Ligue 1, France.

Biggest asset: PSG forward Neymar cost the club €222 million (£200 million) in August but has a current market value of €247 million (£217.5 million).

1: Manchester City — €853 million (£751.5 million)
1: Manchester City — €853 million (£751.5 million)
Kevin de Bruyne.Daniel Hambury / EMPICS Sport
Division: Premier League, England.

Biggest asset: Manchester City paid Wolfsburg €75 million (then £55 million) for the transfer of Kevin de Bruyne in 2015. The 26-year-old is now worth €126 million (£111 million)