Four Premier League clubs boast a squad value of over €1bn according to research that looks at the aggregate values of clubs across Europe's big-5 leagues, reports www.fcbusiness.co.uk

According to the algorithm exclusively developed by the CIES Football Observatory, the estimated value of the squad of five teams is over one billion euro, four of which are from the Premier League, reflecting the financial power of the English top division.

Of the top five, only Barcelona is the best-ranked non-English team (ranked 3rd) with a squad value of €1.2bn.

Manchester City leads the rankings with a total transfer value of €1.5bn.

Liverpool, who trail Manchester City in the Premier League by one point, follows in second place in the rankings with a squad valued at over €1.3bn.

The Merseyside club are followed by Tottenham (4th) and Manchester United (5th) with a squads valued at just over €1bn each.

Tottenham's squad was the least costly to assemble of the top five at just €365m.