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The 2025-26 European club football season concluded dramatically on Saturday as Paris Saint-Germain retained their Champions League title by defeating Arsenal in a penalty shootout. This marked the first successful defence of the crown since Real Madrid achieved the feat nearly a decade ago, a historic moment for Luis Enrique’s side. Despite the heartbreak, Arsenal’s extraordinary season—capped by their first Premier League triumph in 22 years—remains a monumental success.

Meanwhile, Bayern Munich shattered multiple records en route to another Bundesliga title, while Barcelona claimed their second consecutive La Liga crown, leaving crisis-stricken Real Madrid well behind.

In Italy, Antonio Conte parted ways with Napoli just a year after winning the Scudetto. Inter dominated Serie A this season, lifting the title with ease, while both Juventus and AC Milan failed to qualify for the Champions League for the first time in the competition’s history.

Here’s a look at the standout winners and losers from the 2025-26 European football campaign.

WINNER: Mikel Arteta

Mikel Arteta was candid after Arsenal’s Champions League final loss, describing his main emotion as “pain.” Understandably so—his team came within a penalty shootout of dethroning PSG. Yet, pride will soon replace the anguish. Arteta can take immense satisfaction in leading Arsenal to their first Premier League title since 2004, ending a 22-year drought and proving his managerial mettle in a make-or-break season.

Although Arsenal’s pragmatic and often cynical playing style drew criticism—even from Thierry Henry—the outcome justified the approach. Arteta deserves credit for transforming a team once labelled “specialists in failure” into England’s best.

WINNER: Cesc Fabregas

Cesc Fabregas guided Como to an unprecedented Champions League qualification with a 4-1 win over Cremonese. Four years ago, the club lacked even a proper training ground; now, under Fabregas’s leadership, they’ve achieved the unthinkable. The 39-year-old Spaniard was the architect of this meteoric rise, turning a second-tier side into Italy’s youngest and most exciting team. Sporting director Carlalberto Ludi even claimed Fabregas might be a better coach than he was a player—a statement that no longer sounds far-fetched.

LOSER: AC Milan

Gerry Cardinale’s AC Milan endured a disastrous campaign, failing to qualify for the Champions League for a second straight year despite heavy spending. Their collapse, including a humiliating home loss to Cagliari, led to mass firings—coach Massimiliano Allegri, CEO Giorgio Furlani, and others were dismissed. Fans’ fury boiled over, with protests calling for Cardinale’s resignation. Milan’s turmoil stands in stark contrast to Inter’s success, offering a harsh lesson in club management.

WINNER: Barcelona

Barcelona’s unity and spirit under Hansi Flick delivered back-to-back La Liga titles, even as Real Madrid imploded amid dressing-room chaos. Led by Lamine Yamal, Barca’s young side continues to evolve. The club’s improved finances have allowed them to sign Anthony Gordon and target Julian Alvarez, pointing toward a promising new era. As sporting director Deco noted, this feels like “the beginning of a new era” at Camp Nou.

LOSER: Florentino Perez

Real Madrid’s president Florentino Perez found himself under immense scrutiny after a second consecutive trophyless season and the ill-fated decision to replace Xabi Alonso with Alvaro Arbeloa. Amid fan unrest and internal clashes, Perez’s bizarre press conference—where he blamed the media, called himself “a supernatural animal,” and accused rivals of corruption—only deepened the sense of crisis. For the first time since 2009, his presidency faces a genuine electoral challenge.

WINNER: Bodo/Glimt

Norwegian side Bodo/Glimt became the fairytale of the season, stunning Europe by defeating Manchester City, Atletico Madrid, and Inter en route to the Champions League last 16. Coach Kjetil Knutsen’s disciplined, fearless team showed that smart, sustainable football can still triumph over wealth. With a new stadium under construction, Bodo’s rise from obscurity continues to inspire smaller clubs across Europe.

LOSER: Wolfsburg

Wolfsburg’s 29-year stay in the Bundesliga ended in heartbreak. Following their relegation playoff defeat to Paderborn, players were in tears, and some reportedly vandalised the dressing room. The club now faces an uncertain future, with fears that Volkswagen might end its long-standing sponsorship, putting a potential return to the top flight in jeopardy.

WINNER: Christian Chivu

Christian Chivu silenced critics by leading Inter to a domestic double—winning both Serie A and the Coppa Italia—just a year after replacing Simone Inzaghi. Despite early doubts and a tough start, Chivu revived the squad’s morale after last year’s Champions League humiliation. While questions remain about his European credentials, club president Beppe Marotta wants him to stay for “many years to come.”

LOSER: Erik ten Hag

Erik ten Hag’s brief and ill-fated stint at Bayer Leverkusen ended after just two Bundesliga games, the shortest reign in league history. Following his Manchester United dismissal, the Dutchman sought redemption but swiftly fell out with club officials and players. His sacking was described as “unprecedented,” and his managerial future now looks uncertain.

WINNER: Unai Emery

Unai Emery masterminded Aston Villa’s best season in decades, guiding them to fourth place and Europa League glory. Once mocked during his Arsenal tenure, Emery has now cemented his status as a managerial genius. His tactical acumen and motivational prowess transformed Villa from early-season strugglers into European champions, earning him legendary status at Villa Park.

WINNER: Pierre Sage

Pierre Sage’s exceptional work at Lens—transforming a mid-table side into Ligue 1 runners-up and Coupe de France winners—has made him one of Europe’s hottest coaching prospects. Despite losing key players, Sage built a cohesive unit capable of challenging PSG, securing Champions League football for Lens for the first time in decades.

LOSER: Multi-club Ownership

2026 was a nightmare year for multi-club ownership models. Girona, part of the City Football Group, suffered relegation just 16 months after competing in the Champions League. Manchester United co-owner Jim Ratcliffe faced protests at Nice, while Chelsea’s BlueCo ownership sparked coordinated fan demonstrations alongside Strasbourg supporters. The concept of shared ownership across clubs is now under intense scrutiny after repeated failures.

WINNER: Bayern Munich’s Front Three

Vincent Kompany’s attacking trio—Harry Kane, Luis Diaz, and Michael Olise—fired Bayern Munich to a domestic double, combining for an astounding 109 goals across competitions. Their chemistry was described by club legend Lothar Matthaus as akin to “a Swiss watch.” While a Champions League title remains the missing piece, all three forwards are now in contention for the Ballon d’Or after a record-breaking campaign.

LOSER: Marseille

Chaos reigned once again at Marseille. After an opening defeat at Rennes sparked a locker-room fight between Adrien Rabiot and Jonathan Rowe, Roberto De Zerbi’s tenure quickly unravelled. A humiliating 5-0 thrashing by PSG prompted his resignation, and replacement Habib Beye’s brief stint ended amid further unrest. Restoring order at the Velodrome will require a special leader capable of taming the club’s volatile environment.

WINNER: Donyell Malen

Donyell Malen transformed Roma’s season after his January loan arrival from Aston Villa, scoring 14 goals in 18 matches to finish second in Serie A’s scoring charts. His form powered Roma back into the Champions League for the first time in seven years, triggering a €25 million permanent transfer clause that now looks like a bargain.

LOSER: Arne Slot

After lifting the Premier League trophy in his debut season, Arne Slot’s fall at Liverpool was swift and brutal. Injuries, Mohamed Salah’s disciplinary issues, and a lack of tactical adaptation led to the club’s worst run in 71 years. The Dutchman ultimately lost the dressing room, forcing Liverpool to part ways with the man who had once delivered them glory. Football can indeed be merciless.

WINNER: Oliver Glasner

Oliver Glasner’s farewell at Crystal Palace was nothing short of fairytale. Despite announcing his exit mid-season, he guided the Eagles to Conference League victory—a year after their FA Cup triumph over Manchester City. Glasner’s achievement with modest resources has inspired smaller clubs across Europe, proving that ambition and belief can defy limitations.

LOSER: Manchester City

Pep Guardiola’s decision to leave Manchester City after missing out on a seventh Premier League title marked the end of an era. Their defeat to Bournemouth and Champions League exit to Real Madrid exposed vulnerabilities. With key figures like Bernardo Silva and possibly Rodri departing, and Enzo Maresca set to take over, City now faces a period of uncertainty after years of dominance.

WINNER: FC Thun

Swiss club FC Thun delivered one of football’s most remarkable stories, winning the Swiss Super League for the first time in their 128-year history—just seven years after facing financial collapse. Their unexpected triumph under Mauro Lustrinelli captured hearts across Europe, a reminder of football’s enduring magic. As Christian Fassnacht aptly put it, “All of Swiss football is happy for Thun.”

WINNER: Paris Saint-Germain

After leading PSG to back-to-back Champions League titles, Luis Enrique confirmed his intent to stay and strengthen the squad. Club president Nasser Al-Khelaifi hailed him as “the best coach in the world,” and with one of the youngest title-winning squads in history, PSG now aims to emulate Real Madrid by winning three in a row. With Enrique at the helm, few would bet against them.