Chelsea’s €1.66bn squad the most expensive ever assembled according to UEFA report

A recent UEFA report has revealed that Chelsea had the most expensive squad ever assembled at the end of the 2024 financial year.

Valued at an astonishing €1.66bn (£1.39bn), the Blues have surpassed the previous record of £1.12bn set by Real Madrid in 2020.

The European Club Finance and Investment Landscape Report also identified four clubs with squads worth over €1bn – Chelsea, Manchester City, Manchester United, and Arsenal.

The findings further highlight the Premier League’s financial strength, with nine of the 20 most costly squads in Europe belonging to English clubs.

Remarkably, West Ham’s squad was deemed more expensive than those of Barcelona and AC Milan.

The report also examined wage expenditure across Europe, revealing that nine English clubs ranked among the continent’s top 20 based on total wage bills.

Chelsea’s squad at the end of the 2024 financial year was the costliest ever assembled, according to a new UEFA report 💰 pic.twitter.com/E7U1u3JtSX

— Sky Sports Premier League (@SkySportsPL) March 7, 2025

Manchester City recorded the second-highest wage costs at €554m (£464.5m), with only Paris Saint-Germain spending more at €658m (£551.7m).

Commenting on the financial landscape of European football, UEFA president Aleksander Ceferin warned clubs to stay cautious despite responsible player wage management.

He said: “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. The clubs must remain vigilant as considerable work still needs to be done to restore pre-pandemic profitability.”

The report also highlighted a record-breaking €2.1bn (£1.8bn) investment in stadiums across Europe in 2023, exceeding the previous high of €1.5bn set in 2019 before the pandemic.

Real Madrid, Barcelona, Everton, and PSG each invested over €100m in stadium projects, while 36 clubs allocated at least €10m to stadium improvements – double the number from the previous year.

These long-term investments have continued into 2024, with early financial reports showing sustained spending in infrastructure as clubs aim to maximise matchday revenue.