Paris St-Germain kick off their latest Champions League campaign this week with an opportunity to cement themselves among the true dynasties of European football, chasing a third consecutive continental crown after their recent back-to-back triumphs.
Despite a sluggish start domestically this season, few would be surprised if Luis Enrique's side went on to complete an extraordinary treble of European titles by next summer. Since the arrival of Qatar Sports Investment 15 years ago, PSG have been the dominant force in French football, but it was only after a change in philosophy that the club finally captured the Champions League itself.
For years, PSG were associated with extravagant spending and star-studded signings that failed to deliver Europe's biggest prize. That changed when club president Nasser Al-Khelaifi declared an end to what he called the "flashy, bling-bling" era of lavish transfers, signalling a shift towards a more structured footballing project.
Enrique's appointment in 2023 marked the beginning of that transformation. Rather than chasing marquee names, PSG invested in younger players suited to the coach's tactical demands, prioritising discipline and cohesion over individual stardom. The approach paid off spectacularly, producing two thrilling Champions League victories in succession.
Still, PSG's achievements, while remarkable, are only the beginning if they are to be mentioned alongside the sport's most storied European powerhouses. Historical comparisons highlight just how high the bar has been set by previous generations.
Real Madrid's side of the late 1950s remains the gold standard, winning five consecutive European Cups from the competition's very first edition in 1955 through 1960. Anchored by Alfredo Di Stefano and later strengthened by the addition of Hungarian great Ferenc Puskas in 1958, Madrid's dominance helped elevate the profile of the newly formed tournament. Puskas scored 35 goals in 39 European Cup appearances for the club, including four in the iconic 7-3 demolition of Eintracht Frankfurt in the 1960 final at Hampden Park.
Liverpool's era of success between 1976 and 1984 also stands as a benchmark, part of a broader period of English supremacy in Europe. The Reds won four European Cups during that stretch under a lineage of managers – Bill Shankly, Bob Paisley and Joe Fagan – showcasing remarkable continuity through changes at the helm. Notable moments included Kenny Dalglish's winning goal against Club Brugge in 1978 and Alan Kennedy's decisive strike against Real Madrid in the 1981 final.
AC Milan's run from 1988 to 1995, powered by owner Silvio Berlusconi and manager Arrigo Sacchi, produced back-to-back European Cup wins in 1989 and 1990, followed by a stunning 4-0 demolition of Johan Cruyff's Barcelona in the 1994 final. The Rossoneri's blend of Dutch stars Ruud Gullit, Marco van Basten and Frank Rijkaard alongside homegrown talents like Franco Baresi and Paolo Maldini made them one of the most feared sides in the sport's history.
Benfica's brief but brilliant spell in the early 1960s, engineered by coach Bela Guttmann, also deserves mention. After promoting a group of promising youth players – including a teenage Eusebio – Benfica won successive European Cups in 1961 and 1962, defeating Barcelona and then Real Madrid in the finals. Guttmann's acrimonious departure afterwards spawned the enduring legend of a curse that has since prevented the Lisbon club from winning another European trophy.
While PSG's current run does not yet match the sustained brilliance of those historic sides, a third consecutive Champions League triumph this season would represent a significant step toward genuine dynasty status in the modern game.
Based on reporting from BBC Sport.