#4 Real Madrid - €506.8 million market value differential

Squad Purchases: €450.50 million
Squad Value: €957.30 million
Difference: €506.80 million
Had Cristiano Ronaldo not left Real Madrid this summer they would sit at the top of this list. However, the departure of the Portuguese superstar has shortened the gap between squad value and squad purchases to leave the current Champions League holders in fourth place.
While Los Blancos usually purchase players for high prices, the status of the club generally leads to an increased market value for anyone who wears the famous white jersey. Of their three most valuable players - Gareth Bale, Toni Kross, and Raphael Varane - only one has dropped in value since arriving at the Bernebeau. Bale was purchased for €101 million but is currently worth only €80 million.
However, on the flip side, they have promoted some incredible youth players whose market value increase has contributed to Madrid's entry on this list. A case in point is Daniel Carvajal who came through the youth ranks and Castilla teams before spending a season in Germany. Now a first-team regular, he boasts a market value of €60 million.