Manchester United's squad last year were the "most expensive ever assembled" in football, says a Uefa report.
The 2020 Real Madrid squad were previously the most costly at £1.13bn.
United's squad included £82m Antony, £80m Harry Maguire, £73m Jadon Sancho and £70m Casemiro.
The total does not include £72m striker Rasmus Hojlund, £55m forward Mason Mount or £47m goalkeeper Andre Onana, all of whom joined in the 2023 summer transfer window.
United finished third in the Premier League last season, their first campaign under manager Erik ten Hag.
Three other squads - Manchester City, Chelsea and Real - cost more than £1bn in transfer fees.