By Jonathan Davies

Lionel Messi has been named the most valuable footballer in the world ahead of Cristiano Ronaldo and Chelsea's Eden Hazard by the International Centre for Sports Studies (CIES).

The Barcelona forward's value has been calculated to €220 million (£172m), far ahead of Ronaldo's €133m (£104m).

Chelsea winger Eden Hazard completes the top three at €99m (£77m). He is joined by his club teammates Diego Costa (4th; €84m) and Cesc Fabregas (8th; €62m) in the top 10.

Juventus midfielder Paul Pogba makes the top five at €72m. The Premier League trio of Sergio Aguero (6th; €65m), Raheem Sterling (7th; €62m) and Alexis Sanchex (9th; €61m). Perhaps surprisingly, the world's most expensive footballer, Gareth Bale, was only named 10th with a value of €60m.

Spanish giants Real Madrid have more players in the top 100 than any other club, with 11. Chelsea and Arsenal lead the way in the Premier League with nine each.

However, when you take into account the full list of 120 players, Chelsea join Real Madrid with 11 players. And what may came as a surprise to many is that Premier League champions Manchester City have eight players in the full list, level with city rivals Manchester United, who finished seventh last season.

The CIES calculated the values using an exclusive algorithm developed on the basis of over 1,500 fee paying transfers occurred since 2009. The variables included in the econometric model refer to player performances (matches, goals, dribbles, etc.), their characteristics (age, position, contract duration, etc.), as well as competition level and results achieved by their teams (clubs and national sides).

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