For all their financial woes, Juventus (£563m) and Barcelona (£551m) still possess squads packed with millions of pounds’ worth of ability, before Arsenal and Tottenham (£472m) make up the top 10.

Possibly the biggest surprise in the whole list is that Everton – who have qualified for European competition just twice in 11 seasons – have spent more on their squad than Bayern Munich, who won the Champions League just two years ago.

The Toffees (12th) have splashed out £400m, while Bayern (13th) have kept their spending to an impressive £361m.

Atletico Madrid sit just ahead of both teams with a squad value of £414m, while Napoli (£357m) and Leicester City (£352m) make up the top 15.