Most valuable national teams in Europe: Where do France, Spain and England rank?

European football remains home to some of the world's most talented and expensive squads, with the continent's leading nations regularly competing for major international honours.

France, Spain, England and Germany have all assembled squads packed with players valued at nine-figure sums, while emerging nations such as Norway and Belgium also boast significant market value.

The 2026 World Cup provided another reminder of the depth of talent across Europe. Spain ultimately lifted the trophy, while England reached the semi-finals and France also went deep into the knockout stages. Elsewhere, Belgium and Norway reached the quarter-finals, highlighting the strength of Europe's leading national teams.

Player valuations can fluctuate considerably, particularly for younger players, but they provide an interesting way of measuring the depth and potential of a national team. The figures below use the supplied Transfermarkt valuations, converted from euros into pounds at the going rate on the day of publishing.

Here, FootballWhispers ranks the ten most valuable national teams in Europe.

Top 10 most valuable national teams in Europe

Top 10 Most Valuable National Teams in Europe

Ranked by squad market value

Top 10 most valuable national football teams in Europe by squad market value, showing confederation and value in pounds sterling.

#	Country	Confederation	Value
1	England	UEFA	£1.53bn
2	France	UEFA	£1.24bn
3	Spain	UEFA	£1.16bn
4	Germany	UEFA	£1.12bn
5	Portugal	UEFA	£858.4m
6	Italy	UEFA	£746.4m
7	Netherlands	UEFA	£710.7m
8	Norway	UEFA	£530.6m
9	Belgium	UEFA	£505.4m
10	Croatia	UEFA	£372.5m

Squad values shown in pounds sterling.

10. Croatia (£372.5m)

Croatia occupy 10th place with a squad valued at £372.5m, despite sitting 13th in the FIFA World Ranking. Their valuation is built around a mixture of established international stars and some of Europe's most exciting young players.

Manchester City defender Josko Gvardiol is their most valuable player at €70m (£60.1m), while Brighton's teenage defender Luka Vuskovic is valued at €60m (£51.5m). Martin Baturina completes the leading trio at €55m (£47.2m), giving Croatia considerable value in both defence and midfield.

Croatia topped their 2026 World Cup qualifying group unbeaten, winning seven of their eight matches. They subsequently reached the knockout stage before losing 2-1 to Portugal, with Gvardiol having a stoppage-time equaliser controversially ruled out.

9. Belgium (£505.4m)

Belgium are ninth with a squad value of £505.4m, placing them slightly higher than their eighth position in the FIFA World Ranking. Their valuation is spread across a relatively deep group rather than being dominated by one hugely expensive superstar.

Diego Moreira is Belgium's most valuable player at €45m (£38.6m), while Manchester United summer signing Youri Tielemans is valued at €40m (£34.3m). Charles De Ketelaere, Senne Lammens, Matias Fernandez-Pardo and Mika Godts are all valued at €35m (£30.0m), highlighting the strength of Belgium's next generation.

Belgium reached the quarter-finals of the 2026 World Cup after beating Senegal 3-2 after extra time before a 4-1 victory over co-hosts the United States. Their run ended against eventual champions Spain, who prevailed 2-1 despite De Ketelaere scoring for Belgium.

8. Norway (£530.6m)

Norway's £530.6m valuation is heavily influenced by one of the world's most valuable players. City talisman Erling Haaland is worth €220m (£188.8m) on his own, accounting for more than a third of the nation's total squad value.

Arsenal captain Martin Odegaard provides another elite player at €70m (£60.1m), while Jorgen Strand Larsen and Andreas Schjelderup are both valued at €40m (£34.3m). The combination gives Norway significant attacking and creative quality despite their 19th-place FIFA ranking.

Norway made history at the 2026 World Cup, winning a knockout match for the first time after beating Ivory Coast 2-1 in the Round of 32. They also defeated Brazil 2-1 in the next round, extending their unbeaten record against the South Americans, before England ended their run with a 2-1 quarter-final victory after extra time.

7. Netherlands (£710.7m)

The Netherlands rank seventh with a squad value of £710.7m, comfortably ahead of Belgium despite sitting only one place higher in the FIFA World Ranking.

Liverpool star Ryan Gravenberch is their most valuable player at €80m (£68.7m), with Jurrien Timber valued at €70m (£60.1m). Cody Gakpo and Jan Paul van Hecke are both worth €60m (£51.5m), giving the Dutch a strong core across midfield, defence and attack.

The Netherlands topped their 2026 World Cup group with seven points but suffered their earliest-ever World Cup exit when Morocco eliminated them on penalties in the Round of 32. Ronald Koeman subsequently resigned as head coach, with Xavi appointed on a four-year contract.

6. Italy (£746.4m)

Italy's squad is valued at £746.4m, putting them sixth despite their 15th-place FIFA ranking. New Tottenham Hotspur midfielder Sandro Tonali leads the way at €80m (£68.7m), followed by Alessandro Bastoni at €65m (£55.8m) and Riccardo Calafiori at €55m (£47.2m).

The valuation makes Italy's absence from the 2026 World Cup particularly striking. The four-time world champions failed to qualify after losing to Bosnia and Herzegovina on penalties following a 1-1 draw, meaning they have now missed three consecutive editions of the tournament.

Roberto Mancini has since returned as Italy head coach, with the Azzurri preparing to begin their UEFA Nations League campaign against Belgium.

5. Portugal (£858.4m)

Portugal break into the top five with a squad worth £858.4m, led by midfield duo Vitinha and João Neves, who are each valued at €140m (£120.2m).

Nuno Mendes is the next most valuable Portuguese player at €80m (£68.7m), while Pedro Neto is valued at €60m (£51.5m). That gives Portugal one of the deepest collections of high-value attacking and midfield talent in Europe.

Their 2026 World Cup campaign, however, failed to match the quality suggested by their squad valuation. Portugal finished second in their group before losing 1-0 to Spain in the Round of 16, with Roberto Martinez resigning immediately afterwards.

4. Germany (£1.12bn)

Germany are the first nation on the list with a squad worth more than £1bn, coming in at approximately £1.12bn. Jamal Musiala and Florian Wirtz lead the way at €100m (£85.8m) each, while Aleksandar Pavlovic is valued at €90m (£77.3m).

Lennart Karl adds another €60m (£51.5m) to Germany's total, highlighting the emergence of another highly rated young generation. Their squad value remains substantial despite Germany's 12th-place position in the FIFA rankings.

Germany beat Curacao 7-1 and Ivory Coast 2-1 to reach the knockout stage at the World Cup, their first progression from the group stage since 2014. Their campaign ended in the Round of 32 against Paraguay, who won a penalty shootout after a 1-1 draw.

3. Spain (£1.16bn)

Spain rank third with a squad valued at £1.16bn, despite sitting top of the FIFA World Ranking. Their valuation is spearheaded by Lamine Yamal, whose €220m (£188.8m) valuation makes him one of the most valuable players in world football.

Pedri is worth €150m (£128.8m), while Pau Cubarsi and Fermin Lopez are each valued at €100m (£85.8m). That combination of established stars and elite young talent gives Spain extraordinary depth.

Their market value was backed up by results in 2026, as Spain won the World Cup after beating Portugal, Belgium and France in the knockout stages before defeating Argentina 1-0 in the final. The triumph gave Spain their second World Cup title and further underlined the quality within their current generation.

2. France (£1.24bn)

France are second with a squad value of £1.24bn, with Kylian Mbappe, Michael Olise and Desire Doue providing more than £420m of that total between them.

Mbappe is valued at €200m (£171.7m), while Olise is worth €170m (£145.9m) and Doue €120m (£103.0m). The figures underline the extraordinary depth available to France, with elite talent spread across almost every area of the pitch.

France reached the semi-finals of the 2026 World Cup before losing 2-0 to Spain, marking their third consecutive major tournament in which Spain eliminated them at the semi-final stage. They subsequently lost 6-4 to England in the third-place play-off, with Didier Deschamps' long tenure coming to an end.

Most valuable national team in Europe: England (£1.53bn)

England top the rankings with a staggering £1.53bn squad valuation, comfortably ahead of France and Spain. Jude Bellingham leads the way at €160m (£137.3m), while Declan Rice is valued at €120m (£103.0m).

Elliot Anderson, marquee Chelsea signing Morgan Rogers and Bukayo Saka are each valued at €110m (£94.4m), meaning England have five players worth at least £94m. The sheer depth of high-value talent explains why the Three Lions sit comfortably at the summit.

Thomas Tuchel's side also enjoyed a strong World Cup qualifying campaign, becoming the first European nation to secure qualification after winning all six matches without conceding a goal. They ultimately reached the semi-finals in 2026, where Argentina ended their hopes of a first World Cup final since 1966.

England recovered to beat France 6-4 in the third-place play-off, securing their best World Cup finish since their famous triumph 60 years earlier. They will now begin their next competitive campaign against world champions Spain in the UEFA Nations League.