Arsenal and Chelsea handed £1.6bn financial boost as latest team valuation figures are confirmed

Arsenal have jumped ahead of Chelsea into second as the most valuable squad in the world.

Treble winners Manchester City lead the way with their squad valued at an incredible £1.6bn. Chelsea, who endured a forgettable first year under new owners, finished in lowly 12 having splashed almost £600million on players in the last transfer window.

The Blues are valued at £838million even though they are trying to get players off their books, including Hakim Ziyech, Kalidou Koulibaly and Edouard Mendy.

Mikel Arteta’s side have just secured the long-term futures of Bukayo Saka and Gabriel Martinelli while working on contract extensions for some of their most valuable players.

Last season felt like two teams who were going in different directions given how impressive Arsenal were, while Chelsea struggled and end up failing to qualify for any kind of European football - enduring their worst league campaign in the last 30 years.

The imminent sale of players like Mason Mount who has been tipped to move to Manchester United, and Mateo Kovacic widely reported to be heading to Manchester City, is likely to create space for the for new players to arrive and hopefully rejig the team.

German giants Bayern Munich are rated fourth while PSG, who have just lost Lionel Messi, make up the top five of the most valuable teams in the world.

Arsenal have been linked with West Ham’s Declan Rice while Chelsea will hope that they have recouped enough to convince Moisés Caicedo to join them.