The UEFA Champions League (formerly the European Cup) has crowned many champions, but a number of clubs have reached the final only to lose and still remain without a title. Below is the full list of clubs that have reached the final but have never won the Champions League.
1. Atlético Madrid (Spain)
Atlético Madrid is the only team to reach three Champions League finals without winning the trophy. They lost all three finals, including consecutive losses in 2014 and 2016 to city rivals Real Madrid. The club, founded in 1903, has one of the biggest fanbases and richest histories in Europe.
2. Arsenal (England)
Arsenal reached their first and only Champions League final in 2006, losing 2–1 to Barcelona despite taking an early lead. The Gunners, founded in 1886, have never won the Champions League despite being one of England’s biggest clubs with a massive global following.
3. Tottenham Hotspur (England)
Tottenham Hotspur have reached only one Champions League final, in 2019, when they lost 2–0 to Liverpool. Founded in 1882, Spurs are North London giants who have yet to win Europe’s biggest prize.
4. AS Roma (Italy)
AS Roma, founded in 1927, reached their only Champions League (European Cup) final in 1984, losing on penalties to Liverpool at the Stadio Olimpico in Rome. The Giallorossi are one of Italy’s biggest clubs but remain without a European Cup title.
5. Olympique Lyonnais (Lyon, France)
Lyon, founded in 1950, reached their only Champions League final in 2010, losing 2–0 to Inter Milan. Although Marseille won the Champions League in 1993, Lyon has never won the title despite dominating French football for much of the 2000s.
6. Bayer Leverkusen (Germany)
Bayer Leverkusen, nicknamed “Neverkusen” due to their tendency to finish as runners-up in various competitions, have never won the Champions League. The club, founded in 1904, reached their only final in 2024, losing to Real Madrid.
7. Valencia CF (Spain)
Valencia are one of Spain’s biggest clubs and have reached the Champions League final twice, in 2000 and 2001, losing both times. They lost 3–0 to Real Madrid in 2000 and fell to Bayern Munich on penalties in 2001. Founded in 1919, Valencia remains without a European title.
8. FC Schalke 04 (Germany)
Schalke, founded in 1904, have never reached the Champions League final and have never won the title. They are among the biggest clubs in Germany but remain without European Cup glory.
9. Galatasaray (Turkey)
Galatasaray, founded in 1905, have never won the Champions League. They won the UEFA Cup (now Europa League) in 2000 but have never reached the Champions League final.
10. Dynamo Kyiv (Ukraine)
Dynamo Kyiv, founded in 1927, have never won the Champions League and have never reached the final. They won the UEFA Cup Winners’ Cup twice but remain without a European Cup title.
Note: Paris Saint-Germain (PSG) finally broke their hoodoo by winning their first Champions League title in 2025, defeating Inter Milan 5–0 in the final. Arsenal will face PSG in the 2025–26 final at the Puskás Aréna in Budapest.
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