The 2024/25 UEFA Champions League has reached its most captivating stage: the semi-finals. Four teams remain in the hunt for Europe’s most prestigious trophy, each with a unique story but united by a journey defined by growth, talent, and decisive moments. Barcelona, Inter Milan, Arsenal, and Paris Saint-Germain are ready to fight for a place in the final.
Here’s a detailed look at their path so far, standout performers, and what to expect as the tournament heads toward its climax. Top bookmakers have already updated their odds, with shifts occurring after each key injury update and tactical change.
After years of transition, Barcelona appear to have found a clear direction under Hansi Flick. The Blaugrana finished second in the UEFA Champions League group stage with the highest number of goals scored (28). However, they have come into their own in the knockout phases, first comfortably dispatching Benfica in the Round of 16 with wins in both legs before overcoming Borussia Dortmund in the quarter-finals with an aggregate score of 5-3.
A dominant 4-0 first-leg win rendered the 3-1 defeat in the return leg essentially irrelevant. The Catalan outfit’s strength lies in the enthusiasm of a young but mature squad, enriched with individual brilliance.
Raphinha (12 goals) and Robert Lewandowski (11) form a lethal attacking duo, while the precocious talent of Lamine Yamal continues to dazzle in the final third. In midfield, Pedri, Frenkie de Jong, and Gavi have orchestrated play with technical finesse, while at the back, fast-rising youngster Pau Cubarsi and experienced leaders Inigo Martinez and Ronald Araujo have been the standout stars.
However, the backline has shown signs of vulnerability: 13 goals conceded in the group stage, plus three more in Borussia Dortmund, have raised some concerns ahead of the double clash with Inter Milan. Barcelona also showed their soft underbelly in the Copa del Rey final against Real Madrid, who came from a goal down to nearly win the tie before going down in extra time.
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If Barcelona represent the future, Inter Milan exemplify continuity and structure. The Nerazzurri edged out Bayern Munich in one of the tightest quarter-finals (4-3 on aggregate), maintaining an unbeaten home record in the Champions League that now stretches to 15 matches.
Their aim is to replicate the 2010 triumph, and their group stage results fuelled that ambition: 19 points from six wins, one draw, and just one loss, with only one goal conceded in eight matches. The semi-final against Barcelona inevitably recalls the famous clash won by Jose Mourinho’s Inter Milan, although the present day’s team is different — more compact, less flashy, but extremely effective.
Boasting one of Europe’s most solid defensive units and depth that allows for smart rotation, Inter Milan may lack the big-name stars of their semi-final rivals. However, their collective identity stands out. Captain Lautaro Martinez has the leadership to guide them back to the final.
Sixteen years since their last UEFA Champions League semi-final appearance, Arsenal are back among Europe’s elite — and in style. After thrashing PSV Eindhoven 7-1 in the Netherlands, they swept past Real Madrid with a commanding 5-1 aggregate win. A 3-0 triumph in London was a statement, while the 2-1 win at the Santiago Bernabeu confirmed their ever-improving maturity under Mikel Arteta and the team can now dream of its biggest achievement.
The Gunners have been one of this season’s surprises. Blending youth with experience, they have found key figures in Declan Rice, Bukayo Saka, and Gabriel Martinelli. Smart defensive signings like Riccardo Calafiori and Jakub Kiwior have shored up the backline.
Despite some injuries up front, goalscoring has not been an issue. Their only loss came in the group stage at San Siro against Inter Milan, though it did not come in the way of smooth qualification to the round of 16.
Those expecting a declining Paris Saint-Germain after the departures of Lionel Messi, Neymar, and Kylian Mbappe were sorely mistaken. Luis Enrique has reshaped the team, now younger and evidently hungrier. Les Parisiens edged past Aston Villa 5-4 on aggregate in the quarter-finals — an unexpectedly tough battle that also demonstrated their mental resilience, especially after their dramatic Round of 16 comeback against Premier League leaders Liverpool.
PSG are now a different project — less about superstar names, more about collective effort. While the group stage had its challenges, emerging talents like Warren Zaire-Emery, Desire Doue, and Joao Neves have stepped up, while veterans like Marquinhos, Achraf Hakimi, and Gianluigi Donnarumma provide balance. They will face Arsenal in an intriguing, first-ever semi-final meeting full of tactical possibilities.
According to Opta’s supercomputer, Arsenal are slight favorites to win the tournament with a 28.7% chance, followed by Paris Saint-Germain at 24% and Barcelona at 21.8%. While Inter’s chances are statistically lower, their defensive strength and near-invincibility at San Siro make them serious contenders. Their treble dream may have ended in the Coppa Italia semi-finals against Milan, but their overall season remains impressive.
It is also worth noting that Arsenal are among the very few teams to have beaten Real Madrid twice in a single Champions League campaign — an extremely rare feat. Meanwhile, PSG’s ability to stage comebacks without relying on star power highlights their competitive grit. With Ligue 1 already wrapped up, PSG will aim to lift the Coupe de France before diving fully into the final European push.
Bookmakers diverge from Opta’s projections, placing Barcelona as slight favourites, with odds ranging from 2/1 to 21/10. However, the gap is minimal, indicating a highly competitive race where fine margins and key moments could prove decisive. Paris Saint-Germain follow closely, with odds between 21/10 and 23/10, reflecting growing confidence in their refreshed, team-oriented approach.
Arsenal are not far behind, currently valued at around 5/2, a figure that underscores both their strong performances and the slight scepticism surrounding their lack of recent experience at this level. At the bottom of the pack — at least according to the odds — are Inter, with bookmakers offering 4/1 to 9/2. Despite being viewed as underdogs, the Nerazzurri have already overturned expectations against Bayern Munich, and their rock-solid defense makes them a threat that should not be underestimated.
