According to a recently released report by UEFA, Manchester United's squad for the 2022-2023 season has clinched the title of the most expensive assembly in European football history. The report, titled "European Club Finance and Investment Landscape," indicates that Manchester United splurged over 1.42 billion euros ($1.52 billion) on the squad for that particular season, surpassing the previous record set by Real Madrid in 2020, which stood at 1.33 billion euros.

Under the management of Erik ten Hag, Manchester United's squad boasted high-profile transfers including Antony, Harry Maguire, Jadon Sancho, and Casemiro. Notably, Manchester City trailed closely behind with a squad value of 1.286 billion euros for the same season.

Released on Wednesday, the UEFA report also highlighted the top earners in terms of club revenues for 2022, with Real Madrid, Manchester City, Barcelona, and Paris St Germain leading the pack. The Premier League dominated the top-earning clubs list, with nine teams among the top 20, boasting an average revenue of 323 million euros.

LaLiga followed as the second-highest revenue-generating league with 3.3 billion euros, while the Bundesliga, Serie A, and Ligue 1 rounded out the top five. Notably, the report emphasized the staggering revenue gap between English clubs and those from lower-ranked leagues, highlighting the financial dominance of the English top-tier clubs.

However, amid the financial prowess displayed by English clubs, the report also shed light on pre-tax losses incurred by clubs in 2022, with English clubs contributing 764 million euros to the combined 3.2 billion euros of pre-tax losses recorded by clubs. Despite these losses, UEFA noted positive signs, attributing them to slowing wage inflation and renewed activity in the transfer market.

(With Reuters inputs)