Middlesbrough had a productive 2024 summer transfer window that has seen their squad value increase.
All told, Michael Carrick brought nine new faces to the Riverside Stadium during the most recent transfer window.
There were a few signings who technically cost the club nothing, including free transfer Luke Ayling.
Deadline day additions Ben Doak and George Edmundson have moved to Middlesbrough on loan as well, so they technically have no transfer fee.
The remaining six first-team additions at the club this summer were all permanent deals though, and set Boro back a decent chunk of change.
Middlesbrough paid £3.5m to Manchester City for Micah Hamilton, with part of that figure made up of add-ons.
Aidan Morris, Delano Burgzorg, Harley Hunt and Neto Borges all arrived for decent fees but the most expensive signing saw Tommy Conway join Middlesbrough for £4.5m from Championship rivals Bristol City.
Middlesbrough squad value compared to Leeds United and Burnley
Now, after a summer of smart but fairly big spending, Middlesbrough have seen the value of their squad increase.
CIES Football Observatory have released an updated list of the top 100 most expensive teams in the world and Boro are included.
Somewhat unsurprisingly, the Teessiders are only just on the list, coming in 100th place with a squad value of €65m (£54.79m)
Three more Championship teams also crack the top 100. Leeds United’s squad set Daniel Farke and co. back €192m (£161.86m), Burnley paid €162m (£136.57m) to assemble their team and Sheffield United have spent a more modest €79m (£66.59m) on their current players.
Unsurprisingly, big-spending Chelsea top the list with a record €1.263 billion spent on players, with Manchester United, Manchester City, Arsenal and Tottenham Hotspur rounding out the top five.
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Can Middlesbrough compete with Leeds United and Burnley for promotion
While Middlesbrough have paid out a lot more for players compared to some Championship teams, the gulf in spending between themselves, Burnley and Leeds is quite remarkable.
Both sides have spent time in the Premier League recently and this is clearly reflected by the fact they have spent over double what Boro have on players.
This mammoth spending could give Farke and Scott Parker the edge over Carrick in the promotion race this season.
After four games of the campaign, Middlesbrough sit seventh in the Championship table on seven points.
Burnley are also on seven points but are above the Teessiders due to their superior goal difference.
As for Leeds, they sit in fourth place after two draws and two wins in 2024/25 so far.
Right now, it is a closely contested battle between the trio but the sheer quality Burnley and Leeds have been able to bring in over the last few years may give them an advantage over Championship regulars Boro as the season goes on.