The Real Madrid football club has announced that it has upgraded its transfer market value to $12.4 billion, making it the most valuable team in world football.

According to the club's statement, the upgrade is due to the signing of several high-profile players this summer, including Lionel Messi and Cristiano Ronaldo, who have both joined from Paris Saint-Germain.

The club also confirmed that it had signed several other players for big money, with the total cost of these signings expected to be over $8 billion.

The upgrade comes after Real Madrid struggled financially in recent years, with the club being forced to sell several key players and cut costs in order to stay competitive.

The club's new owners, Florentino Perez and Robert Louis-Dreyfus, believe that investing in top talent will help them compete at the highest level and win more titles in the future.

However, there are concerns among some fans about the financial burden that the upgrades will place on the club, with some suggesting that they may not be able to sustain such spending in the long-term.

Despite these concerns, Real Madrid remains one of the most successful football clubs in the world and is widely regarded as one of the best teams in Europe. With the addition of Messi and Ronaldo, the club is poised to continue its dominance in the sport for many years to come.