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.

Attacking midfielders with genuine No.10 instincts remain scarce at the elite level. This survey distils the core reasons a selection of those players matter now: creativity, goalscoring, tactical intelligence and adaptability across competitions and systems.

Charles De Ketelaere arrived at Atalanta in 2023 after a difficult season at AC Milan. Gasperini’s setup revived him: he scored 14 league goals and provided 11 assists in his debut campaign while playing a central role in Atalanta’s Europa League triumph. In 2024/25 he followed that with 13 goals and 13 assists, standing out for silky footwork, clever movement and elite off-ball positioning.

Xavi Simons rebuilt his trajectory at PSV in 2022, scoring 22 times and earning Player of the Year before PSG triggered a buy-back clause and later loaned him to RB Leipzig. Now a permanent Leipzig player, Simons has become one of the Bundesliga’s most electric attacking forces.

Pedro Gonçalves has been Sporting’s creative metronome since 2020. Up until the end of 2024/25, despite missing significant time through injury, Gonçalves had scored 87 goals and provided 57 assists for the club. His quiet persona and a brief, uneventful spell at Wolves have obscured his sustained output.

Giorgian de Arrascaeta continues to flourish at Flamengo, winning the 2025 Copa Libertadores. On his level, Filipe Luís said: “The whole world knows and sees that he could perfectly be in Barcelona, Real Madrid, Atlético, Chelsea … he is high above many’s standard,” Luís once gushed. “He makes the difference.”

Bayern’s Lennart Karl, signed from Eintracht Frankfurt’s academy at 14, became the club’s youngest Champions League scorer with a goal against Club Brugge. “I’m aware of it, of course, but I don’t let it influence me,” he shrugged.

Other profiles charted here include established creators and rising stars: Antoine Griezmann, Morgan Gibbs-White, Eberechi Eze (whose FA Cup final winner against Manchester City earned a move to Arsenal), Christoph Baumgartner—“He’s an incredibly important player for us and organizes a lot, both on and off the pitch,” Ole Werner said—and a string of continental talents earning fresh recognition.

This group illustrates how varied the modern No.10 role is: goal threat, orchestrator, press initiator and game finisher. The mix of proven output and emergent potential explains why these midfielders are so highly prized in 2025/26.

“Old age and treachery will always beat youth and exuberance.” That observation sits oddly beside the transfer market of the last decade, where inflated fees have produced the most valuable 18-year-olds in football history. Transfermarkt’s crowd-sourced estimations reflect what a player might fetch on the open market on their 18th birthday and are a reminder that a world record fee in 1958 would be the equivalent of £91,000 ($123,000) today.

Chelsea committed an initial €34 million to sign Estêvão from Palmeiras when he was only 17 in 2024. By the time he was allowed to join the Blues after turning 18 his valuation had risen sharply. The Brazilian has impressed coaches and teammates with his talent and humility. “The hardest challenge has been the weather,” he laughed midway through his first season in England.

At Arsenal, Ethan Nwaneri first captivated attention when he became the youngest Premier League player at 15 with a late appearance at Brentford. Mikel Arteta has taken a cautious route to his development. “I am responsible for building a career for him. You have to do that brick by brick,” he said, adding a longer metaphor about cementing each stage. “Now we have to put some cement, make sure it doesn’t get dry so we can put another one and that will stick. Then we put one more layer, one more layer. “If you want to put five bricks in a row, believe me, it won’t work.”

Lucien Favre on Jude Bellingham offered a different perspective: “With someone like him, I don’t look at the date of birth.” Bellingham was rated at €55 million as an 18-year-old and Real Madrid paid €103 million in the summer of 2023. His first year produced 23 goals, 13 assists, a La Liga title and the Champions League.

Real Madrid also paid €47.5 million for Endrick a year before Estêvão and later spent €30 million on Reinier. Endrick managed one La Liga goal in his first 18 months in Spain.

Warren Zaïre-Emery started more than half of Paris Saint-Germain’s league games at 18 while competing for midfield places; his agent Jorge Mendes suggested his client could become a Ballon d’Or winner. Gavi made his senior Spain debut at 17; Emerson Palmieri admitted, “I didn’t know him,” and by 18 Gavi was among the planet’s most valuable midfielders.

Lennart Karl’s breakthrough at Bayern included the candid remark: “FC Bayern is a very big club. It’s a dream to play there. But at some point I definitely want to go to Real Madrid,” he naïvely told a cluster of fans. “That [Madrid] is my dream club, but let’s keep that between us.”

Pau Cubarsí displayed early composure after an under-11s sending off and, under Hansi Flick’s use of an offside trap, reached his 100th appearance for Barcelona while still 18.

Ansu Fati’s decline can be traced to a rupture of his meniscus one week after turning 18 in November 2020. He was out for 10 months. Before that first injury he had played 43 games with 13 goals and 5 assists and averaged a goal or assist every 109.7 minutes. After the injury he played 80 games with 16 goals and 5 assists and averaged a goal or assist every 159.1 minutes. Matches missed through injury are listed as 2.