What happened: Fabrizio Romano confirmed FC Bayern Munich are officially out of the 2025/26 UEFA Champions League. The Bavarians failed to advance past Paris Saint-Germain in the semifinal tie, with PSG booking their place in the Budapest final against Arsenal.

Why it matters: The exit ends Bayern's European campaign at the penultimate hurdle and denies them a return to the final since their 2020 triumph. With Arsenal already booked into the Budapest final, PSG's progression sets up a marquee showpiece and intensifies scrutiny on Bayern's defense and goalkeeping unit heading into the summer window.

What to watch: Attention turns to Bayern's domestic finish and offseason decisions on the goalkeeper and midfield core. The Champions League final is set: PSG vs Arsenal in Budapest.