The surge in transfer prices and squad valuations has reshaped how clubs are measured. The CIES Football Observatory produces those estimates by weighing a player’s quality, age, position and length of contract, and those individual valuations are then summed to give each squad a market value.

The scale is striking. There are nine clubs with squads valued above $1 billion. At the top is Real Madrid with a squad valuation of $1.78 billion and Kylian Mbappé listed as the most valuable player at $221 million. Barcelona follow with $1.60 billion, Lamine Yamal accounting for $403.9 million of that total. Arsenal and Paris Saint-Germain each sit at $1.55 billion, with Bukayo Saka ($131.5 million) and Désiré Doué ($150.3 million) named as their most valuable players respectively.

Liverpool’s roster is valued at $1.20 billion, most valuable player Florian Wirtz ($149.8 million). Bayern Munich come in at $1.15 billion with Michael Olise ($162.6 million) as their top-rated asset. Tottenham’s squad is valued at $1.03 billion; Xavi Simons is listed as their most valuable player ($98.1 million), despite the club’s current relegation fight and Igor Tudor’s assessment that players “are lacking when we attack, we lack the quality to score the goal. We are lacking in the middle to run and we are lacking behind to stay there to suffer and not concede the goal.”

The list also includes Manchester United ($953 million, Benjamin Šeško $100.3 million) and Inter ($942 million, Lautaro Martínez $117 million). Earlier-positioned squads under $1 billion include Atlético Madrid ($903 million, Julián Álvarez $136.5 million), Juventus ($896 million, Kenan Yıldız $152.5 million) and Brighton ($894 million, Diego Gómez $86.4 million).

Several voices in the game have reflected on the market changes. Karl-Heinz Rumminegge said, “There are some players who do not come with a price tag.” Robert Lewandowski complained, “You are young, you score 10 goals in six months and some club will pay 60 or 70 million,” adding, “Before, you had to achieve something.” Vincent Kompany warned players about hype: “I always tell my players, ‘When there’s hype please don’t believe it, you’re not that good.’”

Whether the valuations mirror on-field quality or the inflation of a transfer market remains the central question CIES data brings into focus.

Tottenham Hotspur’s 1–1 draw with Liverpool delivered more than a point. It was Igor Tudor’s first point in charge and, according to The Times, the display of spirit and togetherness was sufficient for the club to give the Croatian manager more time.

The result left Spurs just one point clear of the relegation zone, but the performance persuaded the board to retain Tudor for the immediate run of fixtures. He will remain in charge for Tuesday’s Champions League round of 16 second leg, a European tie that has been overshadowed by last week’s 5–2 defeat to Atlético Madrid.

That heavy loss to Atlético was described in the club’s recent narrative as little more than a distraction from the primary concern of Premier League survival. The next domestic test carries heavy significance. Nottingham Forest sit one point below Tottenham in the table, making the visit a pivotal encounter in the fight to stay up.

Defeats to Arsenal, Fulham, Crystal Palace and Atlético were all cited as bitterly disappointing, and at one stage it appeared almost certain Tudor would be relieved of his duties as the relegation battle intensified. They still need points, make no mistake about it, but the draw against Liverpool produced the sort of team spirit and togetherness that had been missing in recent months. Spirits were higher and the performance was judged fairly impressive; a victory would have hardly been unfair.

If Tudor can reproduce that level of application and cohesion over the remaining fixtures, Spurs should secure their place in next year’s Premier League and then pause to consider whether a change of manager is necessary. If results deteriorate, the club could still consider parting ways with Tudor during the March international break, but there is confidence he can guide the team to safety over the coming weeks.

The visit from Forest is a huge one. Tottenham are also perceived to have a comparatively friendly run of fixtures after the international break, with Sunderland and Brighton & Hove Albion to follow, before a meeting with Wolverhampton Wanderers.

Arne Slot made a bold selection for Liverpool’s match with Tottenham Hotspur, omitting Mohamed Salah and placing Hugo Ekitiké and Ibrahima Konaté on the bench. The decision represented five changes from the side that lost in the Champions League to Galatasaray and signalled a shift in approach for a crucial domestic fixture.

Slot had earlier removed Salah from the squad for the Champions League trip to Inter Milan before talks led to the forward’s return. Since coming back from the Africa Cup of Nations with Egypt, Salah had started all 12 of Liverpool’s matches. Sunday marked the first time he did not begin.

Starting XI (4-2-3-1: Alisson; Dominik Szoboszlai, Joe Gomez, Virgil van Dijk, Andy Robertson; Ryan Gravenberch, Alexis Mac Allister; Jeremie Frimpong, Florian Wirtz, Rio Ngumoha; Cody Gakpo.

Slot’s selection reflected recent concerns about Salah’s form. The 33-year-old produced one of his poorest displays in Istanbul, taking just one touch inside Galatasaray’s penalty box during 60 minutes and failing to register a shot. He had also been held goalless against Nottingham Forest as Liverpool struggled to establish an attacking rhythm. Slot’s choice made space for Rio Ngumoha, whose energetic contributions from the bench and subsequent minutes have drawn attention.

Ngumoha impressed after a lively cameo against Nottingham Forest and was introduced as a starter in the FA Cup tie at Wolverhampton Wanderers the previous week. He watched the Champions League defeat to Galatasaray from the bench before earning his first Premier League start here. Slot framed the selection as the natural next step, saying: “Rio is a player who could start for us. He’s been coming in for longer spells. He’s definitely an option to start one of the three games in the coming week.”

Explaining the timing, Slot told Sky Sports: “Why now? He started training this season and he’s improving, his game time has gone up and the next step is starting.” The manager also kept Virgil van Dijk at the heart of his plans, playing him regularly, while Liverpool have had to manage the absence of Alexander Isak and rotate their options up front when Ekitiké is unavailable.