Real Madrid's squad has been assembled at a cost of 316m Euros, making it the most expensive in Europe

Real Madrid remain the richest club in Europe, UEFA's latest report into football finance has confirmed.

The Spanish giants lead the way in terms of 2014 revenue (550m Euros), gate receipts (121m Euros), biggest wage bill (270m Euros) and most expensive squad (316m Euros).

Real play the team with the second most expensive squad, PSG (276m Euros), in the Champions League this week.

Manchester United are Europe's top club in terms of operating profit with 140m Euros in 2014 and fellow Premier League club Tottenham are the best net profit performers with 78m Euros.

The report has also revealed that club wages have increased by more than 664 per cent over the past two decades and that player salaries reached 7bn Euros in 2014.

Clubs in England have the highest average wage bill, at 113.9m Euros, with Germany the next highest on 63.2m Euros.

UEFA claim the effect of Financial Fair Play rules are the main mitigating factor in the reduction of combined club losses from 1.67bn Euros to 485m Euros.

"While we should remain cautious, it appears that the worst financial excesses of European football reported in 2010 and 2011 are potentially behind us," said UEFA general secretary Gianni Infantino.

"This year's edition of the report highlights some notable improvements that have taken place in the last three years, coinciding with the introduction of financial fair play."