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Newcastle United’s squad is worth £128.5million – according to expert Swiss sports economists CIES Observatory.

We have obtained their full breakdown of the United squad and it makes for very interesting reading – with Georginio Wijnaldum the highest valued player and Yoan Gouffran the lowest. But it also reveals how poor United’s recruitment was in 2014 – EVERY player signed then has depreciated in value according to the Swiss-based football economics research unit made up of Academics.

The values are sure to be controversial but they are objective. CIES’ methodology involves a metric that takes into account age, performances, experience, international status, contract length, position and the performances and level that Newcastle have been playing at.

Before anyone scoffs at their working, CIES claim that “since the 2013 summer transfer window, the correlation between values estimated by our algorithm and the sums actually paid for the recruitment of big-5 league players has been close to 80%”.

CIES added in their report this week: “The strength of this correlation shows that, on one hand, the footballers’ transfer market is rational and, on the other, that its rationality has been well understood by the econometric model developed by the CIES Football Observatory academic team.”

The CIES website is here.

Here are the values of nearly every contracted player broken down.

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Georginio Wijnaldum - £19.2million (24.8m Euros)

United paid £14.5million for the midfielder last summer, signing him from PSV Eindhoven amid much interest.

And CIES reckon he has appreciated in value on the back of 11 goals in his debut Premier League season. Likely to be linked with a few Premier League clubs – Everton, Southampton and Roma are all keen.

Aleksandar Mitrovic - £18.7million (24.2million Euros)

Striker cost £13million when Newcastle signed him from Anderlecht last close season – and it was a mixed debut campaign in England.

Has been linked with Sporting Lisbon somewhat fancifully and the £18.7million price tag will raise a few eyebrows. But he’s got a long contract, he’s only 21 and he’s a full international – hence CIES’ valuation.

Jonjo Shelvey - £12.8million (16.6million Euros)

(Image: 2016 Getty Images)

United’s third highest valued player. CIES reckoned he was worth more than £20million in January. Newcastle paid £12million for him, which made him a “bargain” according to the Swiss sports economists.

Poor performances since then have chipped away at his valuation but he’s still worth in excess of £12million.

Chancel Mbemba - £12.2million (15.8million Euros)

Another summer signing who is believed to have increased his valuation.

The DR Congo defender was signed from Anderlecht and played 31 games in his debut season in the Premier League. Again, his age, contract length and international status are all taken into account by CIES.

Moussa Sissoko - £11.4million (14.8million Euros)

(Image: Jan Kruger/Getty Images)

France midfielder is one of the players most likely to leave United this summer, with Arsenal and Liverpool looking at him.

With three years left on his contract and a place in the France team, United should be asking big bucks for him according to CIES.

Andros Townsend – £10.9million (14.1million Euros)

Townsend is understood to have a clause in his contract whereby an offer of £13million would see clubs able to talk to him.

Newcastle might have done well there: CIES think his true value is nearer the £11million mark. Another January signing, he cost around that and performed well for Rafa Benitez’s men in their ultimately failed bid to stay up.

Ayoze Perez – £8.4million (10.8million Euros)

Spaniard is another who is sure to attract interest this summer. He’s already been linked with West Ham.

A long-term contract in January has upped his value and he has plenty of potential to improve – although £8million would represent a risk for any club keen to buy him.

Daryl Janmaat – £5.7million (7.4million Euros)

If you had to put your mortgage on a player leaving, it’d be Janmaat.

Juventus are very keen on the Holland right-back and CIES say Newcastle should not accept less than £5.7million. He cost around that and his age – 29 – probably contributed to the relatively low valuation.

Jamaal Lascelles £4.4million (5.6million Euros)

(Image: 2016 Newcastle United)

Nottingham Forest defender had his breakthrough campaign for United, emerging as a towering presence at the end of the campaign.

He’s on a long, four-year deal and is worth more than £4million. Time is on his side and he’ll be a mainstay in the Championship.

Jack Colback £4million (5.2million Euros)

Former Sunderland man was signed on a free after his contract expired at the Stadium of Light. Endured an up-and-down campaign and worth £4million.

Henri Saivet – £3.1million (4million Euros)

Perhaps the best you could say about Saivet is that his valuation isn’t as bad as it might be, although you’d be hard pressed to find too many clubs willing to pay CIES’ £3million valuation for a player who can’t get into Newcastle’s first team squad.

United would have lost £1.5million on the £4.5million they spent on him in January. A disastrous buy so far.

Tim Krul – £2.65million (3.4million Euros)

A lack of gametime has seen Krul’s value drop drastically. A season out with injury and other spells on the sidelines have contributed to his value being chipped away, even if he has played international football.

Would United sell for that this summer? Crystal Palace are sniffing.

Karl Darlow – £2.5million (3.2million Euros)

Former Nottingham Forest ‘keeper came into his own at the end of last season and will start next as number one.

He’s on a long-term deal but because he’s barely played, CIES don’t rate his value that highly. In a few years’ time, it might be different.

Paul Dummett – £2.3million (3million Euros)

The left-back is an Academy graduate who splits opinion – but there’s little doubt United win more games with him in the team than out of it.

A value of £2.3million might increase with more matches and potential Wales appearances next season.

Vurnon Anita – £2.2million (2.8million Euros)

Versatile defender has just two more years left on his deal. At 27, he’s only worth £2.2million.

Siem de Jong – £2.2million (2.8million Euros)

Quite a sharp decline in his value, according to CIES. United paid more than £6million for him two years ago, but injuries mean he’s barely appeared for United.

Manu Riviere – £1.9million (2.5million Euros)

How poor was recruitment in 2014? Riviere’s valuation has nose-dived since Newcastle spent £5million on him. If anyone is willing to pay £2million this summer, United should surely cut and run.

Rob Elliot – £1.3million (1.7million Euros)

Ireland goalkeeper has been immense this season, but that doesn’t seem to be reflected in CIES’ valuation. Seems low for a player who played most of last season.

Cheick Tiote – £1.25million (1.6million Euros)

Remember the days when he was talked about as a £10million midfielder? Not any more. Contractual status and age mean he’s worth less than United paid for him. Although Chinese Super League clubs were willing to pay over-the-odds in January.

Massadio Haidara – £1.17million (1.5million Euros)

Left-back hasn’t been able to train on at United. Once considered a big talent for the future but his lack of games means CIES think he’s worth less than when he signed for United.

Fabricio Coloccini – £1.09million (1.4million Euros)

How the mighty have fallen. The captain is only worth £1million now by CIES’ measurement. With just a few months left on his contract and the wrong side of 30, he doesn’t come out of this valuation process well.

Might leave this summer.

Papiss Cisse – £950,000 (1.2million Euros)

Cisse is another whose contractual status and age means he’s now worth significantly less than United paid for him. Newcastle will listen to offers for him but they’ll no doubt be looking for more than this.

Yoan Gouffran – £620,000 (800,000 Euros)

No surprise, perhaps, that Gouffran is the lowest valued member of United’s current squad. Has just a year on his deal and has barely played.