Ranked: Manchester City squad has highest valuation in world football - in pictures

English clubs would dominate a squad sale, according to Swiss-based CIES Football Observatory

ESTIMATED SQUAD TRANSFER VALUES: 1. Manchester City €1.28 billion ($1.48b). Reuters

2. Manchester United €1.214 billion ($1.4b). AFP

3. Chelsea €946 million ($1.1b). Getty

4. Barcelona €896 million ($1.04b). Getty

5. Bayern Munich €890 million ($1.03b). Getty

6. Liverpool €868 million ($1b). AFP

7. Real Madrid €846 million ($984m). Getty

8. Paris Saint-Germain €808 million ($940m). AFP

9. Borussia Dortmund €687 million ($800m). Getty

10. Atletico Madrid €662 million ($770m). Getty

The English Premier League is now the undisputed leader in European football, in terms of squad value.

According to an analysis by Swiss-based CIES Football Observatory, Manchester City will get the most returns if they were to offload their entire squad.

Using their own algorithm, the Observatory has estimated that Pep Guardiola's squad could fetch €1.28 billion ($1.48bn) in transfer fees. City spent heavily to assemble their squad, which would also make them the frontrunners in the event of a squad sale. Phil Foden, Jack Grealish, Kevin de Bruyne, to name a few, would be in high demand.

Manchester United come close behind in the analysis. It should come as no surprise, especially if names such as Bruno Fernandes, Cristiano Ronaldo, Paul Pogba and Harry Maguire were to be put up for sale.

Chelsea round off the top three, according to the estimates. Surprisingly, the superstar squad of Paris Saint-Germain comes in at eighth - €808 million ($940m). A lion's share of that pie would no doubt go to Neymar, Kylian Mbappe and Lionel Messi.

So how much are the squads of top European clubs worth? Below is the list of the top 10 teams.

Note that, the list does not include players on loan.

Estimated squad transfer values 2021

1. Manchester City €1.28 billion ($1.48bn)

2. Manchester United €1.214 billion ($1.4bn)

3. Chelsea €946 million ($1.1bn)

4. Barcelona €896 million ($1.04bn)

5. Bayern Munich €890 million ($1.03bn)

6. Liverpool €868 million ($1bn)

7. Real Madrid €846 million ($984m)

8. Paris Saint-Germain €808 million ($940m)

9. Borussia Dortmund €687 million ($800m)

10. Atletico Madrid €662 million ($770m)