Manchester United have the third most expensively assembled squad in Europe’s top five leagues, according to a report released by CIES Football Observatory this week.

The value of the Red Devils’ squad increased from €751m (£680m) last year to €844m (£764m) this year, with only Manchester City (€1036m) and Paris Saint-Germain (€888m) ahead of them on the list.

In terms of other Premier League clubs, Chelsea are only fifth despite their lavish summer spending, with a squad valued at €763m, while Premier League champions Liverpool are seventh, having spent €666m to assemble their current team.

Arsenal are in ninth place, having shelled out €590m while Everton round out the top ten with a €504m expenditure, The dominance of English clubs on the list isn’t surprising considering the amount of TV revenue that the Premier League brings in.

However, the fact that United are only second to City in terms of expenditure demonstrates the number of mistakes the club have made in the transfer market in recent years, especially considering their lack of success in terms of league titles.