Clubs that gained the most market value in 2023 - Arsenal way out in front

It has been a thrilling year of top level football in Europe, with supporters treated to another 12 months of scintillating action. Manchester City stole the show, winning the treble following their Champions League final victory against Inter Milan. Bayern Munich beat Borussia Dortmund to the Bundesliga title in dramatic fashion on the last day of the season, Barcelona won La Liga for the first time since 2019, PSG won a fifth title in six seasons, whilst Napoli won the Scudetto for the first time since the late great Diego Maradona was there in the 1990.

This season has also thrown up plenty of surprises, with perhaps the greatest shock being Girona leading La Liga after 17 games. Many clubs have made great developments and strides since January 1, but which clubs in the top five leagues have gained the biggest increase in the their squad market value over the last year?    

The top 10 clubs

1. Arsenal | +€350.5m: Arsenal lead the way and by some distance, with a remarkable increase over the last twelve months reflecting the magnificent job Mikel Arteta has done at the Emirates. The Gunners came within touching distance of a first Premier League title since the 2003/04 'invincibles' last season, and the club's investment in young players in recent years is beginning to pay dividends. 

2. Newcastle | +€191m: Big money signings such as Anthony Gordon, Sandro Tonali, and Harvey Barnes have helped increase Newcastle's value, alongside the great work being done by Eddie Howe, as the Englishmen led the Magpies to a Champions League place last season, in which they eventually crashed out of the 'group of death' but with their heads held high, having beaten PSG 4-1 at St James Park. 

3. Real Madrid | +€189m: Real Madrid are the first club on the list outside the Premier League, and their huge market vale increase has a great deal to do with their €103 million signing of Jude Bellingham, who became the world's joint most valuable player at €180m in the latest La Liga market value update, after his incredible start to his career at the Bernabeu, in which he has scored 17 goals in his first 20 games. 

4. Manchester City | +€183.45m: Last season's treble winners Man City maintain their position as the most valuable club in world football, with Pep Guardiola's team one of the most feared opponents of all time. The rapid development of Erling Haaland, who is the joint most valuable player in the world at €180m has aided their squad market value progression.

5. Aston Villa | +€170.9m: Aston Villa have been on fire this season - the Midlands based club are in and around the title contenders coming up to the new year, and haven't been beaten at Villa Park since Arsenal won 4-2 there in February.

6. Burnley | +€162.6m: Burnley's promotion from the Championship and summer signings have helped their meteoric rise in squad value, despite a difficult start to life back in the Premier League.

7. Bournemouth | +€155.4m: Andoni Iraola's unorthodox tactics are beginning to come to fruition on the South-Coast with Bournemouth and the great goalscoring form of Dominic Solanke (now worth €25m) as well as summer additions have helped their rise in squad value.

8. Brighton | +€153.5m: Brighton have made some incredible progression under the eye of brilliant coach Roberto De Zerbi in the past 12 months, which has seen them reach the knockout stages of the Europa League, as well as provide some big Premier League upsets against the traditionally bigger teams. 

9. Bayer Leverkusen | +€141.7m: The first Bundesliga team on the list, Xabi Alonso is now one of the most sought after managers in world football because of the excellent job he has done with Bayer Leverkusen, which has seen the West German outfit top the German top-flight heading into the new year.

10. Girona | +€128.9m: The surprise package of the top five leagues this season, Girona top the La Liga table going into the new year, and have seen their squad rise in value accordingly.