Juventus spent €719m on transfer fees to assemble the squad, but Manchester City are the first club to surpass €1bn.
According to the CIES Football Observatory, the Bianconeri are the fifth biggest spenders in the top five European leagues.
Over the course of purchasing all their players, they paid out €719m in transfer fees.
This puts them above Barcelona, who spent €697m, but behind Manchester United on €751m, Real Madrid €902m and Paris Saint-Germain’s €913m.
Manchester City become the first club to breach the €1bn mark, as their squad cost €1.014bn to put together.
Despite their recent financial woes, or perhaps because of it, Milan are the next Italian in line with €408m in 13th place, followed by Inter on €364m in 14th.
Napoli’s squad cost €325m to assemble, Roma €254m, Sampdoria €150m and Lazio just €148m.
Fiorentina spent €103m on transfer fees, just €1m more than Cagliari and a whopping €29m less than Burnley.
Atalanta finished third in Serie A and qualified for the Champions League, despite costing just €93m to put their squad together, thanks largely to a strong scouting network and excellent youth academy.
The study also notes that Premier League teams cost on average €345m on fees, compared to just €167m in La Liga and Serie A, €124m in the Bundesliga and €118m in France’s Ligue 1.