Borussia Dortmund midfielder Jude Bellingham currently has the highest transfer value in football at more than £183m, according to research carried out by the International Centre for Sports Studies (CIES).
The 19-year-old midfielder and England team-mate Phil Foden are the top two on a 100-player list produced by the CIES Football Observatory.
The list estimates player values by considering performance, age and contracts, which explains why Bellingham and Foden are ranked above third-placed Kylian Mbappe, whose deal at Paris Saint-Germain expires in the summer of 2024.
Bellingham, who starred for England at the World Cup in Qatar, is contracted to Dortmund until the summer of 2025, but is expected to be at the centre of a bidding war this summer, with several of Europe's elite clubs interested in signing the former Birmingham player.
Bellingham (£183.9m) and Foden (£177.1m), whose Manchester City contract runs until 2027, pip Mbappe and fourth-ranked Vinicius Jr of Real Madrid - who both coming in at around £168m.
Foden's Manchester City team-mate Erling Haaland, whose contract also runs until 2027, is fifth with a value of £154.5M, having scored 27 goals in 21 appearances since joining the club over the summer.
Barcelona's young midfield duo Pedri and Gavi are sixth and seventh, respectively, while Bayern Munich, Germany - and former England youth international - midfielder Jamal Musiala is eighth.
RB Leipzig centre-back Josko Gvardiol, who has been linked with several top clubs after impressing for Croatia at the World Cup, is the highest ranked defender on the list in ninth, while Real Madrid midfielder Federico Valverde rounds out the top 10.
Man City top clubs | England tied with Brazil
The presence of Rodri (11th), Ruben Dias (18th) and Joao Cancelo (19th) make Manchester City - along with Real Madrid - the clubs with the most players in the list's top 20.
The reigning Premier League champions comfortably have the most players in the top 100, with their 13 four more than Bayern and Barcelona in joint-second.
Winger Luis Diaz, ranked 12th with a value of £96.9m, is the first of eight Liverpool players to feature, while the Premier League's 44 players on the list is 26 more than Europe's next best-represented division, Spain's La Liga.
England are tied with Brazil for having the most players on the list with 14 representatives each.
After Bellingham and Foden, the next England player on the list is Arsenal's Bukayo Saka in 14th with a value of £96m.
Chelsea's Reece James, who is ranked 21st at £87.7m, is the next England representative, while club team-mate Raheem Sterling follows in 26th at £82.1m.
Trent Alexander-Arnold then tops a group of five England players ranked between 39th and 45th, which includes Jadon Sancho, Mason Mount, John Stones and Declan Rice, with the quintet's value ranging from £70.3m to £64.8m.
Also on the list is England captain Harry Kane, who comes in 71st at £56.1m, with the 29-year-old's Tottenham contract set to expire in the summer of 2024.
Arsenal goalkeeper Aaron Ramsdale (77th), Manchester City's Jack Grealish (91st) and Roma forward Tammy Abraham (95th) are the other English players on the list.
Where are January targets Fernandez and Mudryk ranked?
The list provides an interesting point of comparison for rumoured upcoming January transfer window deals, along with recent major signings.
Chelsea target Enzo Fernandez is ranked 35th with a value of £70.9m, which is significantly less than the £105m release clause Benfica are demanding for him.
The 22-year-old midfielder played a key role in Argentina's World Cup triumph in Qatar, and Chelsea appear desperate for reinforcements following a dismal run of form under Graham Potter.
Shakhtar Donetsk winger Mykhailo Mudryk doesn't feature on the list, despite significant interest in the 21-year-old Ukrainian from Arsenal and Chelsea.
Shakhtar are said to value Mudryk at £85m, which would put him 25th on the CIES list. The Ukrainian club believe he is better than Antony at Manchester United, who cost £86m from Ajax in the summer and are using that as their benchmark in negotiations.
Antony, who has scored three goals in 14 appearances since joining United is 64th on the list with a value of £57.8m.
Cody Gakpo, who Liverpool have just signed from PSV for a fee between £35m and £45m, is ranked 69th on the list with a value of £56.2m.
The valuations provide mixed verdicts on Manchester City's recent transfer activity, with the club's former player Ferran Torres value appearing to have risen significantly since his departure for Barcelona a year ago.
Torres left City for a deal potentially worth just short of £55m in January 2022, but the 22-year-old is now valued at £94.3m, in 17th on the CIES list.
However, City can look far more favourably upon the value of centre-back Manuel Akanji, who is valued at £50.4m in 78th on the list, just months after joining the club from Borussia Dortmund for £15m.
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Who will be on the move this winter? The January transfer window opened on Sunday January 1, 2023 and closes at 11pm on Tuesday January 31, 2023.
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