Sorry - I didn't see the heading. But in any case squad value is all very arbitrary. Plus English clubs benefit from inflated values.
Look at these squads and count how many world class players in each squad:
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I mean look at this squad:
Fair enough Newcastle shelled out 25m on Shearer but AC Milan had Baresi, Malidini, Costacurta all from youth plus Weah and Baggio. Absolute delusion to think NUFC were anywhere near these established European teams 25 years ago in terms of squad value. Even at home Arsenal and Man Utd likely higher.