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The remaining four clubs in the 2025–26 Champions League are now just one stage away from competing in the tournament's grand finale.
A late 89th-minute strike from Luis Díaz for Bayern Munich against Real Madrid on Wednesday evening set the stage for a thrilling semifinal clash with Paris Saint-Germain.
Following Bayern's 2–1 victory in Madrid, that goal turned out to be the decisive moment in the overall scoreline, which ultimately ended 6–4 in Bayern's favor after an even later effort from Michael Olise.
The two sides produced an electrifying second leg in Munich. Arda Güler netted from range within the opening minute following a costly Manuel Neuer error, before Aleksandar Pavlović quickly leveled, and three further goals followed in the first half alone—among them Harry Kane's 50th goal of the campaign.
The tie appeared destined for extra time until the closing stages, when Eduardo Camavinga's red card left Los Blancos with 10 men, allowing Díaz to fire home from outside the box. Olise then added a late goal to extend Bayern's lead over the 15-time European champions.
PSG had been waiting since the previous day to learn their semifinal opponent as they bid to become the first club other than Real Madrid in 36 years to successfully defend the European Cup. The French powerhouse swept aside Liverpool 4–0 on aggregate, claiming a 2–0 win at Anfield earlier in the week.
The Bayern vs. PSG matchup is a rematch of the 2020 final, and the two clubs have also met seven times since that Covid-era encounter six years ago. Bayern have come out on top in five of those seven meetings, including during this season's league phase.
Arsenal have reached the semifinals for the second consecutive year and will take on Atlético Madrid. One of these two sides will be appearing in a Champions League final for the first time in many years.
Atlético last reached the final a decade ago in 2016, falling to city rivals Real Madrid for the second time in three years. For Arsenal, it has been 20 years since their last final appearance—a 2006 loss to Barcelona in Paris.
Diego Simeone's Rojiblancos edged past Barcelona—3–2 on aggregate—in a controversial all-Spanish quarterfinal that saw the Catalans furious with the refereeing and Atléti embroiled in disputes over the Metropolitano pitch. Arsenal were more methodical against Sporting CP, securing a narrow 1–0 win in Lisbon the previous week before holding firm in the home return leg.
The semifinal's opening leg will take place in Madrid, with Arsenal holding the added benefit of hosting the crucial second leg at the Emirates Stadium.
2025–26 Champions League Semifinal Fixtures in Full
When Are the 2025–26 Champions League Semifinals?
A brief two-week break in the Champions League calendar now follows before the semifinal stage gets underway.
The first leg of PSG vs. Bayern will take place at the Parc des Princes in Paris on Tuesday, April 28. Twenty-four hours later, Atlético host Arsenal in Madrid on Wednesday, April 29.
The second legs come around quickly, just one week later. Arsenal welcome Atlético to north London on Tuesday, May 5, while PSG are set to travel to Munich on Wednesday, May 6.
The final—in which either PSG or Bayern will serve as the designated 'home team' for administrative purposes—is set for Saturday, May 30 at the Puskás Aréna in Budapest, marking the first time Hungary has hosted the biggest annual fixture in world soccer.