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It’s a Champions League final few could have predicted. No Real Madrid. No Premier League giants.
No rejuvenated Barcelona or Harry Kane-led Bayern Munich. Instead, it will be Paris Saint-Germain and Inter Milan battling for the biggest prize in European club soccer – two teams that weren’t among the preseason favorites when the new 36-team format kicked off in September. PSG, entering a new era without Kylian Mbappé and other superstar names, barely made it out of the league phase, needing a win in their final match to secure a knockout berth.
Yet now, months later, the French side has drawn praise as perhaps the most stylish team in the competition. Along the way, it eliminated a string of English clubs – including Liverpool, Aston Villa and Arsenal – as part of its long-running quest for a first Champions League title. Inter Milan, on the other hand, has once again gone largely under the radar – just as it did in 2023 when it reached the final and fell to Manchester City.
The three-time champion doesn’t boast household names, but it’s a tactically disciplined and well-coached side with strong chemistry and a relentless spirit. This season, the Italian side has quietly knocked out top-tier competition, including Bayern Munich and Barcelona. The final will be held on May 31 at the Allianz Arena in Munich.
It will be the stadium’s second time hosting the final after Chelsea beat Bayern on penalties there in 2012. This will be the fifth time Munich has hosted the European Cup’s title match, including its old Olympiastadion days. The pre-match entertainment will feature American rock band Linkin Park.
Prize money has risen with the expanded tournament. Last year, Real Madrid earned nearly €139 million ($154 million) for winning the title. This year’s winner is expected to receive at least €150 million ($170 million), thanks to a 25% increase in the total prize pool.
The financial windfall may continue into the summer, when both finalists are set to appear in the U.S.-based, 32-team Club World Cup.
The winner of that event could receive a share of the $1 billion prize fund, possibly exceeding $100 million. PSG and Inter have never met in the Champions League, which is rare for two major clubs with such rich histories in European competitions. PSG becomes just the third French club to reach the final more than once, joining Reims and Marseille.
Inter, with European titles in 1964, 1965 and 2010, has now returned to the final for the second time in as many years. Since Qatar Sports Investments took over PSG in 2011, the club has dominated domestically, winning 11 of the last 13 Ligue 1 titles. This season marks a shift, with fewer aging superstars and more youthful energy led by players like João Neves and Désiré Doué.
Inter’s ownership has been more volatile. The club is now backed by U.S.
fund Oaktree, which took over in 2023 from China’s Suning group amid mounting debts. Prior to that, it was run by a consortium led by Indonesian businessman Erick Thohir. PSG has already clinched another French league this season, while Inter is still in a fight with Napoli to retain the Serie A title.
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