A new study has confirmed that Manchester City currently have the most expensive squad in world football.
The CIES Football Observatory Weekly Post ranks 'big five' league teams according to transfer fees invested to sign their current squad members.
Manchester City top the rankings with a squad cost of just of £917m including add-ons, closely followed by local rivals Manchester United (£863m).
Chelsea complete an all-English top three, after the Premier League continued to flex its financial muscle in the most recent transfer window.
Paris Saint-Germain unsurprisingly top the table for non-Premier League teams in fourth, followed by Liverpool, Real Madrid and Barcelona.
Arsenal, Tottenham and Atletico Madrid make up the rest of the top 10.
The Manchester teams are the only clubs worldwide with a transfer fee spending to assemble the squad greater than one billion euros (including add-ons irrespective of their effective payment).
City didn't have one of their more lucrative spending summers but still invested more than £100m in the signings of Erling Haaland, Kalvin Phillips, Sergio Gomez and Manuel Akanji.
United were the big spenders of the window, spending over £200m on the likes of Casemiro, Atony and Lisandro Martinez.
Jack Grealish is the most expensive member of City's squad, costing £100m, while Kevin De Bruyne and Riben Dias cost £68.4m and £61m respectively.
Antony has taken the position of United's priciest player following the departure of record signing Paul Pogba.
Harry Maguire is the second costliest at £80m, with Jadon Sancho just behind him at £76.5m.
The most expensive squads in Germany (Bayern Munich) and Italy (Juventus) do not feature in the top 10.
The monthly report also presents further financial analysis of 'big five' league transfers.
It notably shows that Manchester United tops the table for the most negative net transfer spending over the last decade (-€1.09billion), ahead of Manchester City (€778M) and Paris St-Germain (£748M).