Soccer Football – UEFA Champions League – Final – Paris St Germain v Arsenal – Puskas Arena, Budapest, Hungary – May 30, 2026. Paris St Germain’s Marquinhos lifts the trophy as he celebrates with teammates after winning the UEFA Champions League. REUTERS/Phil Noble

Arsenal defender Gabriel blasted his spot kick over Matvey Safonov’s crossbar at the Puskas Arena, his miss confirming PSG as the first club to retain ‌the trophy since Real Madrid completed their three-year reign from 2016 to 2018.

Long dismissed as glamorous underachievers despite vast resources, the Ligue 1 champions have now forged a dynasty under Luis Enrique, marrying attacking brilliance with resilience to establish themselves as the dominant force in European football.

“It’s stronger than last year because we knew before the match just how difficult it would be to play against Arsenal,” said Luis Enrique, whose side had thrashed Inter Milan 5-0 to claim Europe’s elite trophy for the first time.

“As a club and a city, it’s incredible to win, and I think we deserved it over the course of the season. The final was a real battle,” added the Spanish coach.

Soccer Football – UEFA Champions League – Final – Paris St Germain v Arsenal – Puskas Arena, Budapest, Hungary – May 30, 2026. Paris St Germain coach Luis Enrique with the trophy celebrates with players and staff after winning the UEFA Champions League. REUTERS/Phil Noble

The outcome left Arsenal midfielder Declan Rice devastated but proud as his side finished their European campaign without losing ⁠a match aside from the shootout defeat in the final.

“It’s gutting. It’s devastating to lose a Champions League final on penalties,” he said. “But we try to take a lot of perspective from how far we’ve come as a group.

“An incredible season. Given it absolutely everything up until this point. We took the game to penalties. It’s a lottery.”

Europe’s biggest stage

Eleven days after celebrating their first Premier League title in 22 years, Arsenal looked set for a maiden triumph on Europe’s biggest stage after Kai Havertz’s sixth-minute opener and a first hour spent smothering PSG’s vaunted attack.

However, the final became chaotic once PSG’s Ousmane Dembele equalised with a penalty in the 65th minute, the pace turning frantic before exhaustion took the match to a shootout.

Soccer Football – UEFA Champions League – Final – Paris St Germain v Arsenal – Puskas Arena, Budapest, Hungary – May 30, 2026. Paris St Germain players celebrate after winning the UEFA Champions League. REUTERS/Angelika Warmuth

Under Luis Enrique, PSG have won the six shootouts they have contested. The 56-year-old has now won 12 of the 13 one-off club finals he has overseen as a coach.

After brushing aside Premier League opposition on their way to the final by eliminating Chelsea and Liverpool, PSG were facing a much sterner test against an Arsenal team playing their second Champions League final after losing to Barcelona in 2006.

Mikel Arteta’s side took the lead when Marquinhos’ clearance bounced off Arsenal’s Leandro Trossard into the path of Havertz, who raced into the ‌box and fired ⁠into the roof of the net.

He is the fourth player to score in two different European Cup or Champions League finals with two different clubs.

Soccer Football – UEFA Champions League – Final – Paris St Germain v Arsenal – Puskas Arena, Budapest, Hungary – May 30, 2026. Arsenal’s Gabriel Magalhaes misses a penalty during the penalty shootout as Paris St Germain wins the UEFA Champions League. REUTERS/Marton Monus

It was the nightmare scenario for PSG – trailing so early against the best defence in the competition.

Arsenal lived up to their reputation as the best team without the ball and looked perfectly content with the script, doubling up on Khvicha Kvaratskhelia and suffocating the usual danger brought by the Georgian magician on the left flank.

PSG’s Fabian Ruiz was unable to impose his usual rhythm in midfield and, despite monopolising possession for long spells, Luis Enrique’s side struggled to carve out clear-cut chances.

By halftime, PSG had attacked 32 times, Arsenal three times.

Arsenal, however, were flirting with ⁠the boundaries with their challenges and Cristhian Mosquera brought down Kvaratskhelia in the area, with Dembele converting the penalty to equalise with his eighth goal in the competition.

Soccer Football – UEFA Champions League – Final – Paris St Germain v Arsenal – Puskas Arena, Budapest, Hungary – May 30, 2026. Arsenal’s Jurrien Timber reacts. REUTERS/Bernadett Szabo

Momentum shifts

The momentum had shifted.

Jurrien Timber and Viktor Gyokeres replaced Mosquera and Martin Odegaard and Arsenal had a more attacking mindset but were exposed to PSG’s counter attacks and at the end of one of them, Kvaratskhelia sped into the box, only for his left-footed effort to crash onto the outside of David ⁠Raya’s post.

After controlling the tempo in the first half, Arsenal played into PSG’s hands as the pace increased significantly, giving too much space to Kvaratskhelia or Bradley Barcola, who replaced the Georgian winger with seven minutes left.

Soccer Football – UEFA Champions League – Final – Paris St Germain v Arsenal – Puskas Arena, Budapest, Hungary – May 30, 2026. Paris St Germain’s Ousmane Dembele scores their first goal from the penalty spot. REUTERS/Phil Noble

In the 89th minute, PSG came close to giving the final an abrupt end as Vitinha’s grazed the top of the net. Barcola also shot over the bar after a counter attack with what would have been the ⁠last kick of the game.

With both teams having run out of steam, extra time was a cautious affair and when referee Daniel Siebert blew his whistle Arsenal had only managed one shot on target.

Arsenal’s Eberechi Eze missed his penalty before Raya saved Nuno Mendes’ attempt. Gabriel had to score to keep the Gunners’ hopes alive but, facing PSG’s end, he fired over.

The French side were left to celebrate being European champions once again, with extra-time substitute Lucas Beraldo’s goal in the shootout proving to be the winner.

Soccer Football – UEFA Champions League – Final – Paris St Germain v Arsenal – Puskas Arena, Budapest, Hungary – May 30, 2026. Arsenal’s Kai Havertz and Gabriel Magalhaes in action with Paris St Germain’s Willian Pacho, Joao Neves and Fabian Ruiz. REUTERS/Marton Monus

Soccer Football – UEFA Champions League – Final – Paris St Germain v Arsenal – Puskas Arena, Budapest, Hungary – May 30, 2026. Paris St Germain’s Ousmane Dembele celebrates scoring their first goal. REUTERS/Phil Noble

Soccer Football – UEFA Champions League – Paris St Germain fans in Paris watch the Final – Parc des Princes, Paris, France – May 30, 2026. Paris St Germain fans set off flares in the stand as they celebrate after the penalty shoot out while they watch on screens at Parc des Princes. REUTERS/Benoit Tessier