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Manchester City have a higher estimated value of transfer rights than both Barcelona and Real Madrid, according to a new study.
Liverpool, Manchester United, Chelsea and Arsenal also appear in the top 10 of the list curated by CEIS Football Observatory alongside Bayern Munich, Paris Saint-Germain and RB Leipzig.
It takes into account the estimated value of transfer rights held on players in each squad, on loan to other teams or sold on with a sell-on percentage.
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All Premier League clubs appear in the top 100 alongside two Championship sides Burnley and Watford, whilst the highest valued club outside Europe is Brazil's Flamengo with rights worth £233 million.
How much is each team worth?
City hold rights for 46 players that are worth a combined estimated total of £1.28 billion, which is almost £100m more than second-placed Barcelona who hold rights of 40 players worth £1.19 billion.
City topped the Deloitte Football Money League earlier this year so to see their transfer rights valued the most isn't a surprise. However, they were also recently charged by the Premier League for breaching financial rules.
Third place in the transfer value table are Spanish giants Madrid who hold rights which are valued just shy of the £1 billion mark (£986 million).
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Their rivals Barcelona might place above them but that could change if the Catalan club are forced to sell players this summer to reduce their wage bill.
Arsenal are the next Premier League club on the list in fourth with the league leaders holding transfer rights for 47 players valued at £915 million.
Their London rivals Chelsea complete the top five with transfer rights worth £880 million, but given their huge spending spree back in January it's a surprise they aren't higher.
Jurgen Klopp's Liverpool are sixth holding rights for 44 players worth £830 million, this could rise higher in the summer as the club look to rebuild so they can get back to challenging.
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Bayern Munich are the first German club on the list with a transfer rights valuation of £817 million.
They are ahead of Ligue 1 giants PSG who despite having Lionel Messi, Kylian Mbappe and Neymar only have an overall rights valuation of £655 million.
United are just inside the top ten and are way behind their Premier League rivals with rights for 43 players valued at £635 million.
Finishing in tenth are another German side in Leipzig who only hold rights for 32 players that are valued at £595 million.
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Serie A is the only 'big five' league to not have a team in the top 10 with Juventus the highest placed at 14th.
Featured Image Credit: AlamyTopics: Manchester City, Barcelona, Real Madrid, Manchester United, Liverpool, Transfers