Mark Ogden
Nov 10, 2025, 06:00 AM ET
Has the UEFA Champions League final outgrown Europe? With commercial opportunity and logistics both in play, could club football’s premier match one day be staged in the United States, the Middle East or elsewhere?
CONMEBOL commercial director Juan Emilio Roa recently confirmed talks about holding the Copa Libertadores outside South America to exploit commercial opportunities. UEFA’s dilemma, however, is rapidly becoming a practical one: a shrinking pool of suitable European host cities and stadiums able to meet modern final requirements.
UEFA revealed last week that only Munich has bid to host the 2028 final, while just London and Barcelona have entered the race for 2029. That low turnout underlines the pressure UEFA faces finding venues that satisfy strict criteria. Those requirements include a minimum stadium capacity of 65,000, ample space for a secure perimeter, major infrastructure such as an international airport and extensive local transport, and enough hotel rooms for traveling supporters, sponsors, media and VIPs. Hosts must also provide a large broadcasting compound and plentiful corporate entertaining facilities.
Historically the final has touched many cities. Between 1993 and 2005, twelve different cities staged thirteen finals. But many of those cities now lack either the stadium or the surrounding infrastructure UEFA demands. Past hosts such as Vienna, Amsterdam and Glasgow no longer have suitable venues; Athens, Lisbon, Manchester and Cardiff would struggle on hotel and transport grounds. Baku lost out in recent bidding because of travel difficulties for Western European fans. Moscow and Saint Petersburg are excluded following Russia’s ban from UEFA competition after 2022, and Kyiv remains off the table because of ongoing conflict.
Some stadiums still fit the bill. Wembley is regarded by UEFA as near-perfect: a 90,000 capacity, 161 corporate boxes, nine banqueting suites able to host 18,000 guests, connections to multiple airports, and an extensive public transport network and hotel capacity. The renovated Camp Nou, Real Madrid’s Santiago Bernabéu and Atlético’s Metropolitano also meet many of UEFA’s needs; Munich’s Allianz Arena is acceptable despite a smaller hotel base.
Recent allocations show the narrowing options. Munich’s Allianz Arena staged this year’s final between Paris Saint-Germain and Inter Milan; Wembley hosted the 2024 final. Barcelona has not hosted a Champions League final since Manchester United beat Bayern Munich at Camp Nou in 1999, before the stadium fell off the final rota and later underwent extensive renovation. Milan was stripped of the 2027 hosting rights after authorities couldn’t guarantee the San Siro would be fit to stage the game; Inter and AC Milan have since confirmed plans to demolish San Siro and build a new 71,500-capacity arena on the same site. Atlético Madrid’s Metropolitano was appointed host for 2027. Budapest will host the 2026 final at the 67,100-capacity Puskás Aréna, though that selection will put significant strain on the Hungarian capital’s single airport, older metro system and limited hotel space—Booking.com reported that 92% of accommodation in the city is already unavailable for the final weekend.
UEFA sources warn the organization may be down to as few as four “risk-free” venues for future finals: London, Madrid, Munich and Barcelona. If Budapest succeeds in 2026, it could open the door for similar-sized cities, but for now options are constrained. Paris is unlikely to be considered until UEFA is convinced that the crowd-control failures of the 2022 final between Real Madrid and Liverpool will not recur. Rome’s Stadio Olimpico has not hosted since 2009 and is judged to have lagged behind modern standards.
The logistical squeeze has reignited talk about staging the final beyond Europe. Could we see Real Madrid v Liverpool in New York, or Bayern v PSG in Chicago? Charlie Stillitano, a U.S.-based sports executive and promoter, told ESPN that staging the final in the U.S. “would be a wild success.” He noted the growing U.S. fan base—where MLS commissioner Don Garber has described America as “the ATM of the soccer world”—and the appetite for high-end sporting events. Stillitano also pointed out that five million fans have already registered for World Cup tickets next year, showing significant demand and spending power.
But UEFA president Aleksandar Čeferin has stressed a preference for keeping European league games on home soil, and while he said in 2023 that playing the Champions League final in the U.S. was “possible,” he has expressed reservations about moving domestic fixtures overseas. The proposed Barcelona-Villarreal LaLiga match in Miami was eventually canceled, reinforcing the sensitivity around exporting European matches. Stillitano believes UEFA will be cautious: “The US could definitely stage the Champions League final, no question… but I think it’s difficult for them to take the Champions League outside of Europe right now.”
There is also a commercial and organizational alternative to consider: expanding or reformatting global club competitions. Stillitano suggested the more likely next step could be a more frequent Club World Cup—potentially every two years—rather than relocating the Champions League final away from Europe. FIFA, UEFA and the English Premier League remain the most powerful football brands, and both FIFA and the Premier League have already expanded their presence in the U.S.
For now, UEFA says it has no plans to stage the Champions League final outside Europe. The governing body faces a choice: accept a reduced rota of reliable host cities—effectively limiting the final to a handful of major European arenas—or open up the competition to the global market and move the showpiece to locations beyond the continent. With stadia and infrastructure requirements tightening, and geopolitical and practical constraints ruling out several historic venues, the future of where the Champions League final will be played is one of the sport’s most significant questions heading into the next decade.
