Arsenal were denied a first Champions League triumph as they lost a penalty shootout to Paris St-Germain who won the competition for a second successive year.

The French champions beat Arsenal 4-3 on penalties to win the 2025-26 edition of the competition at the Puskás Aréna in Budapest, Hungary, on Saturday.

The match had finished 1-1 after 120 minutes before PSG held their nerve from the spot to clinch back-to-back European titles.

Kai Havertz gave Arsenal the lead in the sixth minute after a midfield clearance by Marquinhos deflected into his path, with the German slotting past Matvei Safonov.

Ousmane Dembélé levelled from the penalty spot in the 65th minute after Khvicha Kvaratskhelia drew a foul in the box.

Neither side could find a winner in extra time, sending the final to a shootout for the first time since the 2015-16 edition.

PSG prevailed 4-3 in the shootout after misses from Eberechi Eze and Gabriel Magalhães, whose final attempt sailed over the crossbar to hand PSG the title.

The Ligue 1 side are the first repeat champions of Europe since Real Madrid won three consecutive titles between 2016 and 2018.

Havertz, who scored for Chelsea in the 2021 Champions League final, became only the third player to score in the final for two different clubs, joining Cristiano Ronaldo and Mario Mandžukić in that elite company.

The closing stages bristled with drama. Arteta and Rice were both shown yellow cards for dissent after the referee waved away Arsenal’s penalty appeal following a challenge on Noni Madueke in extra time.

Substitute Bradley Barcola also had a chance to win it for PSG in the dying moments of normal time but blazed over the bar.

Arsenal had come into the final as newly crowned Premier League champions, chasing the first Champions League title in the club’s history.