On Thursday, UEFA released the "European Club Finance and Investment Landscape Report", which revealed that by 2024, the team value of four clubs will reach or exceed 1 billion euros, namely Chelsea, Manchester City, Manchester United and Arsenal.

According to the latest reports, Chelsea's squad at the end of the 2024 financial year will be the most expensive ever, reaching €1.66 billion (£1.39 billion), surpassing the previous record set by Real Madrid in 2020 (£1.12 billion).

In 2024, nine of the 20 most expensive teams are from England, with West Ham United outspending Barcelona and AC Milan. Nine of the 20 clubs with the highest wage bills in Europe are also from England.

Manchester City ranked second in the Premier League with 554 million euros, just behind Paris with 658 million euros. The report found that among the top 20 clubs, wages accounted for 42% of revenues, ranging from 91% at Villa to 42% at Tottenham.

Player wages at clubs are set to rise by 4.5% in 2024, well below revenue growth, as teams try to comply with UEFA's squad cost rules, which will limit spending on player wages, transfers and agent fees to 70% of revenue from next season.

UEFA President Ceferin said in the foreword to the report: "While most clubs appear to be managing player wage increases responsibly, other costs are rising rapidly, putting more pressure on operating margins than ever before. Clubs must remain vigilant as there is still much work to be done to restore pre-pandemic profitability."

As clubs across Europe seek to maximise matchday revenue, investment in stadiums by all clubs reached a record €2.1 billion in 2023, surpassing the previous pre-pandemic record of €1.5 billion set in 2019.

In 2023, four clubs - Real Madrid, Barcelona, ​​Everton and Paris - invested more than 100 million euros, but the investment amount also increased, with a total of 36 clubs investing at least 10 million euros, compared with only 18 clubs in the previous year.

The report found that these long-term investments appear to continue through to the 2024 season, with early reports of club investment reaching record levels.