When 12 of Europe's most powerful clubs announced the European Super League in April 2021, football's establishment fought back hard. Within days, the project collapsed. The Champions League had survived — but the price of that survival was a sweeping reform that handed the elite clubs much of what they had been seeking all along.

Plans for an expanded, Swiss-style league phase had already been in development before the Super League saga broke. Yet the overhaul, which replaced the old 32-team group stage with a 36-team format, was clearly shaped by a desire to keep the continent's biggest names content. Three seasons in, the verdict is difficult to escape: the new format has made the early stages of Europe's premier club competition considerably worse.

A format that forgives too much

The old group stage was far from flawless. After three decades, it had become predictable — dominant clubs frequently locked up qualification with matches to spare, and genuine surprises had grown rarer with every passing season. The tournament only truly sparked to life in the knockout rounds.

But the league phase has done little to correct those flaws while introducing several of its own. A staggering 144 matches are required simply to eliminate 12 teams — most of whom were expected to exit early regardless. The margin for error is extraordinary. Last season, Benfica lost five of their eight league-phase games and still advanced. In 2024/25, Paris Saint-Germain won just one of their opening five fixtures, yet finished 15th — and went on to lift the trophy.

The format also creates a distorted picture of relative strength. Unlike most domestic leagues, where every side faces every other twice, clubs in the Champions League league phase play eight completely different sets of opponents. Some teams draw significantly harder fixture lists than others, yet all are ranked in a single table as though the conditions were equal. They are not.

Big games, small stakes

The central selling point of the new structure was the promise of marquee clashes in the early rounds — matches that were rare when the competition used eight groups of four. This season has already delivered Real Madrid vs Inter, Atletico Madrid vs Manchester United, Manchester City vs PSG, PSG vs Barcelona, and Bayern Munich vs Arsenal.

On paper, these fixtures produced spectacle. PSG dismantled both Manchester City and Barcelona 4-2. Bayern Munich and Arsenal shared a compelling 2-2 draw at the Allianz Arena. Real Madrid edged Inter 2-1 on matchday one. Yet for all the quality on display, something was missing — jeopardy. These matches carried far less weight than their equivalents in the knockout stage. When results can be absorbed and recovered from with ease, even a clash between two European heavyweights risks feeling more like a prestige friendly than a meaningful contest.

There is also a structural oddity buried in the incentive system. Finishing in the top eight earns a direct place in the round of 16, bypassing the knockout play-off round. In other words, UEFA's primary reward for excellence in its own competition is the chance to play fewer games in it.

The money makes the problem permanent

The uncomfortable reality is that neither UEFA nor the elite clubs have any serious reason to reverse course. More matches generate more broadcasting revenue and more commercial income — for everyone involved. And with qualification achievable by accumulating points against modest opposition, the risks for the biggest clubs remain minimal.

The knockout rounds still represent the summit of club football. Iconic ties are forged in the round of 16, the quarter-finals, the semi-finals — not across eight largely inconsequential league-phase evenings. The Champions League will reclaim its grip on the imagination once the knockout stage begins. Until then, the world's most prestigious club tournament feels, strangely, like it barely matters.