New data released by the CIES Football Observatory
shows that Manchester City
have now become the first football team to assemble a billion euro squad. City have been splashing the cash since they were taken over by the Abu Dhabi group back in 2008 and they have now splurged €1.014 billion on a host of players like Sergio Agüero, Kevin De Bruyne and Raheem Sterling.
Paris St-Germain come second in the spending league with a squad value of €913 million. Despite the extravagent spending of both Man City and PSG, both clubs have notably failed to win the Champions League
. Real Madrid have the third most expensive squad at €902 million.