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Manchester City have the most expensive squad in history,

Premier League leaders Manchester City have the most expensive squad in history, according to a report published on Monday by the Swiss-based CIES Football Observatory.

The research values Pep Guardiola's squad at 878 million euros ($1.08 billion), with Paris Saint-Germain second on 805 million euros, after a January transfer window in which City acquired centre-back Aymeric Laporte from Athletic Bilbao for £57m

Ederson, Kyle Walker, Bernardo Silva, Danilo, Benjamin Mendy all arrived at the Etihad last summer, while Aymeric Laporte broke the club’s transfer record with his £57m move in January.

On top of that, John Stones, Leroy Sane, Gabriel Jesus and Ilkay Gundogan among others have also all been Guardiola signings and so significant money has been spent since he was appointed.

Neymar's world-record signing from Barcelona accounts for more than a quarter of the PSG total but Kylian Mbappe is only on loan, despite an anticipated transfer fee of up to 180m euros to be paid to Monaco at the end of the season.

Two other teams have spent more than 700m euros building their squads -- Manchester United (747m euros) and Barcelona (725m euros).

The rest of the top ten is made up of Real Madrid in sixth, Juventus in eighth and four Premier League teams -- Chelsea, Liverpool, Arsenal and Everton.

The researchers calculated that the average Premier League squad cost "a record high" of 291m euros, more than double La Liga's average of 131m euros.

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