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.

Joan Laporta has confirmed Barcelona are reassessing the club’s approach to Marcus Rashford as the loanee’s long-term future in Catalonia grows uncertain. Laporta, who stepped down from his position to run for reelection, outlined that the board is weighing alternatives after recent dips in the forward’s form.

Speaking to Jijantes, Laporta said: “We could extend the loan further; it depends on what Deco wants.” He added: “There are options: exercising part of the purchase option with United, and we’ll see about the rest. We’re studying the deal.”

Rashford began his spell in Spain strongly, registering 15 goal contributions in his first 24 appearances across all competitions. That early momentum has slowed since Raphinha returned from injury and Rashford’s minutes decreased. In his 14 appearances in 2026, the England international has produced only five goal contributions, with the last coming in Barcelona’s 2–1 win over second-tier side Albacete in the Copa del Rey on Feb. 3.

Laporta’s comments come amid broader transfer planning. Barcelona are reported to remain linked with a big-money move for Atlético Madrid forward Julián Alvarez and may be prioritising financial flexibility ahead of the summer window. The club might be reluctant to trigger the agreed $34.4 million fee to make Rashford’s move permanent.

A renegotiated loan would reduce immediate outlay and buy Barcelona an additional season to balance their books while pursuing needs such as a replacement for Robert Lewandowski and defensive reinforcements. The proposal would, however, conflict with Rashford’s stated preference for a permanent transfer to Barcelona, leaving the player to choose between returning to Manchester United or accepting continued uncertainty at the Spanish champions.

If Barcelona complete the purchase, Manchester United would receive a significant transfer fee to support their squad rebuilding. If Barcelona instead seek another loan, United could demand a higher price for a player whose value has risen following his performances in Spain.

Julian Brandt will leave Borussia Dortmund at the end of the season and is drawing interest from Arsenal and Barcelona as he prepares to become a free agent.

Dortmund executive Lars Ricken said at the weekend: “Both sides agreed that the expiring contract would not be extended. I believe we parted with a great deal of respect. But it’s also another opportunity for both of us.” Sky Sport in Germany reports that Brandt “wants to go abroad” in his next chapter, and both Arsenal and Barcelona are said to be “monitoring” the situation. As yet, there have been no approaches.

Barcelona, described as cash-strapped in the reporting, are attracted by the absence of a transfer fee and would likely use Brandt as cover rather than a starter. For the Blaugrana, the most probable role would be as the first point of cover for Raphinha, although recruitment plans could also be influenced by decisions around Marcus Rashford. The Manchester United winger would cost in the region of $35–40 million to buy outright because of the option in the loan agreement. He is also less than 18 months younger than Brandt, who would be available without a fee. Brandt’s estimated Dortmund salary ($156,000 per week) is barely more than a third of what Rashford ($436,000 per week) is thought to earn currently.

At Arsenal, Brandt is viewed as a versatile option to provide cover in two positions and to add depth. He could also facilitate outgoing business, allowing the Gunners to offload Leandro Trossard or to cash in on Gabriel Martinelli, while concerns over Martin Ødegaard’s decline and Mikel Merino’s injury have highlighted central midfield fragility.

Brandt is reportedly already learning Spanish, which may give Barcelona an advantage because of a Catalan girlfriend. Dortmund will need a replacement, and the possibility that Jadon Sancho could return for a third spell is raised in the coverage. It’s certainly possible.