Money does not guarantee success in soccer, but it certainly boosts the chances of snagging a trophy or two at the end of the season. Most successful European teams have historically been big spenders, and we do not expect the trend to change anytime soon.
On that note, let us take a look at the top European clubs who have been splurging millions in search of silverware this season. Here are the top 15 teams with the highest wage bills across the top five European leagues in 2023-24:
Data: Capology (via FBRef)
#15 Inter Milan (Serie A): €117,580,000 ($127,589,867)
Kicking things off are Serie A front-runners Inter Milan, with their wage bill hovering around €117,580,000 ($127,589,867) for the 2023-24 season. The Nerazzurri have 52 players under contract this season.
One of the best strikers in Europe Lautaro Martinez is Inter’s joint-top earner, with his gross annual salary standing at $12,129,786. Gifted midfielder Hakan Calhanoglu shares the spotlight with Martinez, with him also earning $12,129,786. Alessandro Bastoni rounds off the top three with his gross annual salary of $11,125,339.
#14 Juventus (Serie A): €121,592,000 ($131,943,419)
In 14th place, we have Massimiliano Allegri’s Juventus. The Bianconeri, who have 57 players on their payroll, spend €121,592,000 ($131,943,419) on wages.
Top center-forward Dusan Vlahovic is Juventus’ highest-paid player. The Serbian has a gross annual salary of $14,149,597. Ex-Arsenal goalkeeper Wojciech Szczesny is second on the top-earners’ list with his $13,145,150 annual salary. Alex Sandro is in third place with $12,129,786.
#13 Borussia Dortmund (Bundesliga): €126,600,000 ($137,377,761)
One of the two Bundesliga clubs to feature on this list, Borussia Dortmund will spend around €126,600,000 ($137,377,761) in wages throughout the 2023-24 season. Dortmund have a sizable roster, with a whopping 57 players on their payroll.
Sebastien Haller is Dortmund’s top earner, with his gross annual salary hovering around $12,009,689. Niklas Sule is second with $10,917,899 while Gregor Kobel is third with $9,826,109.
#12 Aston Villa (Premier League): €136,914,670 ($148,515,649)
Top-four contenders Aston Villa will have spent €136,914,670 ($148,515,649) on player wages by the time the 2023-24 season wraps up. Unai Emery’s side have 52 players on their roster for the current campaign.
Barcelona loanee Clement Lenglet is Aston Villa’s joint-highest-paid player alongside Boubacar Kamara and Youri Tielemans. All three players are on $9,971,930 per year deals.
#11 Tottenham Hotspur (Premier League): €137,347,095 ($148,984,712)
With 61 players under contract, Tottenham Hotspur have the deepest squad on this list. The Lilywhites have committed to spend around €137,347,095 ($148,984,712) to keep their squad happy and fed in the 2023-24 season.
Following Harry Kane’s departure, Heung-min Son has emerged as Spurs’ top earner. The South Korean attacker is playing on a $12,631,111 per year package. James Maddison and Timo Werner are Tottenham’s second and third-highest earners, making $11,301,520 and $10,969,122, respectively.
#10 Liverpool (Premier League): €159,225,393 ($172,716,790)
One of the most successful teams in England, Liverpool are 10th on the list. The Reds, who have 49 players under contract, are set to spend €159,225,393 ($172,716,790) on player salaries across the 2023-24 season.
One of the best players in the Premier League, Mohamed Salah, is Liverpool’s highest earner. The Egypt international is on a $23,267,836 per year deal in Merseyside. Virgil van Dijk is Liverpool’s second-highest player with a gross annual salary of $14,625,497. Thiago Alcantara, who has struggled to keep himself fit since this season, is third with his $13,295,906 pay packet.
#9 Atletico Madrid (La Liga): €164,660,000 ($178,677,901)
Diego Simeone’s Atletico Madrid are the third-biggest team in Spain behind Real Madrid & Barcelona — something their sizable €164,660,000 ($178,677,901) wage bill rightly reflects. As of the 2023-24 season, Atletico have 50 players under contract.
Surprisingly, goalkeeper Jan Oblak is Atletico Madrid’s highest-paid player, with a gross annual salary of $22,741,984. Skipper Koke is in second place with his $17,468,638 per year deal, while Alvaro Morata is in third place owing to his $14,782,835 per year contract.
#8 Chelsea (Premier League): €181,529,098 ($196,910,325)
Premier League powerhouse Chelsea will spend around €181,529,098 ($196,910,325) on player wages by the end of the current campaign. The Pensioners have one of the biggest squads in Europe, with a whopping 60 players currently tied to them.
Raheem Sterling, Reece James, and Wesley Fofana are Chelsea’s top three wage earners. The ex-Mancester City winger is on a $21,605,847 (gross) per year deal. Cobham graduate James earns $16,619,882 annually, while the Frenchman’s contract earns him $13,295,906.
#7 Arsenal (Premier League): €194,048,349 ($210,490,345)
Premier League aspirants Arsenal have claimed the seventh spot on this list, owing to their sizable €194,048,349 ($210,490,345) expenditure on player salaries. Mikel Arteta’s side have quite a healthy squad, with 52 players currently under contract with the North London outfit.
Ex-Chelsea man Kai Havertz, who switched camps in the summer of 2023, is Arsenal’s highest-paid player this season. The German’s gross annual salary is hovering around $18,614,268. Gabriel Jesus and Declan Rice are seated under the German, with the Brazilian earning $17,617,075 and the Englishman $15,955,087.
#6 Barcelona (La Liga): €210,960,000 ($228,919,530)
La Liga holders Barcelona will spend €210,960,000 ($228,919,530) on player wages by the end of the 2023-24 season. The Blaugrana, who have 51 players on their roster, are on the wrong side of the Financial Fair Play (FFP) threshold. They need to drastically cut down their expenses to avoid a penalty next summer.
Frenkie de Jong, Robert Lewandowski, and Ilkay Gundogan make the most money at Barcelona. De Jong’s gross salary stands at an astonishing $40,942,121. Lewandowski and Gundogan, meanwhile, earn $29,565,670 and $20,471,061, respectively.
#5 Manchester City (Premier League): €234,523,199 ($254,394,692)
Last season’s Treble winners Manchester City have committed to spend €234,523,199 ($254,394,692) on player salaries this season. The Cityzens only have 47 players on their books — by far the lowest in the Premier League.
Manchester City pays $26,591,812 to Kevin De Bruyne, making him their highest-paid soccer player. Erling Haaland is a close second with a $24,929,824 per year package, while Barcelona target Bernarndo Silva is third on the list with his $19,943,859 pay packet.
#4 Manchester United (Premier League): €240,469,607 ($260,844,947)
Premier League strugglers Manchester United have clinched the fourth spot, thanks to their league-topping €240,469,607 ($260,844,947) spending. The Red Devils currently have 57 players on their payroll — one of the highest on this list.
Casemiro, Raphael Varane, and Marcus Rashford are United’s top three wage earners. The central defensive midfielder is on a $23,267,836 per year contract, while his ex-Real Madrid teammate is on a $22,603,040/year deal. Marcus Rashford, meanwhile, has a gross annual salary of $19,943,859.
#3 Bayern Munich (Bundesliga): €257,320,000 ($279,226,271)
Bundesliga powerhouse Bayern Munich will have splurged €257,320,000 ($279,226,271) on player salaries by the time the 2023-24 season concludes. The Bavarians have 48 players under contract.
With an annual gross salary of $27,294,748, summer-signing Harry Kane is Bayern Munich’s highest-paid player. Club veterans Manuel Neuer and Thomas Muller are second and third on the list. The goalkeeper will earn $22,927,588 by the end of the 2023-24 season, while Muller will make $22,381,693.
#2 Real Madrid (La Liga): €282,650,000 ($306,712,674)
The most successful club in Europe, Real Madrid will spend €282,650,000 ($306,712,674) on ages before the current season concludes. Los Blancos only have 47 players under contract — the joint-lowest on this list alongside Manchester City.
Gifted central midfielder Toni Kroos is Real Madrid’s highest-paid player, with a gross annual salary of $26,617,838. David Alaba is second with a pay packet of $24,565,273 while Luka Modric is third with his $23,888,363 per year contract.
#1 Paris Saint-Germain (Ligue 1): €292,990,000 ($317,932,940)
Ligue 1 giants Paris Saint-Germain (PSG) will pay a staggering €292,990,000 ($317,932,940) in wages by the end of the 2023-24 season, emerging as the highest-spending club in Europe. The Parisians currently have 56 players on their payroll.
Unsurprisingly, Kylian Mbappe is the highest wage earner at PSG. The French superstar makes a whopping $78,608,873 per year (gross). Ousmane Dembele and Lucas Hernandez are the club’s next two highest earners, with the former earning $21,835,798 and the latter $20,744,008.
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