PSG retain the Champions League on penalties after Havertz-Dembélé thriller
Paris Saint-Germain beat Arsenal 4–3 on penalties at the Puskás Aréna to become back-to-back European champions, with Luis Enrique's side surviving an early Kai Havertz strike to join Real Madrid as the only club to retain the trophy in the modern era.
Havertz strikes early, Dembélé levels
Kai Havertz put Arsenal ahead inside five minutes in Budapest, silencing the PSG end of the Puskás Aréna. Paris Saint-Germain responded in the second half through Ousmané Dembélé, who converted from the spot to send the final to extra time and, ultimately, penalties.
4–3 on penalties
With the scores level at 1–1 after 120 minutes, PSG held their nerve in the shootout to win 4–3, sealing back-to-back Champions League titles under Luis Enrique.
Second club to go back-to-back in the modern era
Paris Saint-Germain became only the second club, after Real Madrid's run of consecutive titles in 2016–17 and 2017–18, to retain the Champions League since the competition adopted its current format — a landmark result for a club chasing sustained continental dominance.
What's next
PSG head into 2026–27 as defending champions, with the league phase draw on August 27 in Nyon and the new 36-team league phase kicking off September 8.
Sources: UEFA, July 2026.