A new report has given the estimated transfer value of all World Cup squads who are competing in Russia.

The CIES Football Observatory track all players as to their transfer values and has put together the combined individual values throughout each 23 man squad.

There are some interesting outcomes.

CIES Football Observatory explain how they come to the transfer values::

‘The valuations refer to the fair price that the most likely buyer clubs should pay to sign the players.

The sporting performance of both the footballers themselves and their clubs of belonging are included in the algorithm.

In addition, other variables such as age and contract duration are taken into account.

The estimated transfer value for all players participating in the World Cup is €12.6 billion.

At the bottom of the table are three non-European countries with almost no players employed by clubs in the most competitive leagues: Panama, Saudi Arabia and Iran.

The World Cup will probably allow some of them being spotted by teams in the richest football countries.’

Even though they are only third or fourth favourites (see below) for the World Cup, France’s squad is rated most valuable, with a combined valuation of 1.41bn euros (£1.24bn) for the 23 man squad.

Even more surprising maybe is that England, who are 16/1 outsiders are rated the second most valuable squad at 1.38bn euros (£1.22bn), with indeed the most valuable player at the tournament (according to CIES Football Observatory) in Harry Kane – his individual valuation is 201m euros (£177m).

Brazil are favourites with the bookies for the World Cup but only third in this list of values.

Even more surreal is that Germany are close second favourites for the World Cup, and rated number one in the world currently, yet only sixth highest for squad value here.

This tells us a lot about the Premier League and Bundesliga.

With English clubs paying out the most collectively in transfer fees, having all 23 of the England squad playing in the Premier League, guarantees a high value for the squad. On top of that, there is usually assumed to be a premium to be paid when Premier League clubs sign English players, assuming more likely to settle etc.

Conversely, with the vast majority of the German squad playing in their own domestic league, their players tend not to have the transfer value that maybe they should have.

No surprise to see that of the 24 highest value World Cup squads, 13 of them have as their highest value individual, someone who is either now playing in the Premier League, or who has previously done in their career.

world cup squadsOdds to win the World Cup:

4/1 Brazil

5/1 Germany

6/1 Spain

6/1 France

9/1 Argentina

10/1 Belgium

16/1 England

25/1 Portugal

25/1 Uruguay

All BetVictor odds on winning the World Cup see HERE.