Ligue 1’s two-faced truth: European success is masking financial ruin

French clubs are enjoying best continental season in decades but catastrophic crisis could engulf entire league

Montpellier, who have officially been relegated to Ligue 2, are one of several clubs French clubs that could go bankrupt by the end of the season. File picture: Clement Mahoudeau/Getty

If it is results that count, tout va bien for Ligue 1. Having so far accrued its second-highest total of Uefa ranking points in a single campaign, the “league of talents” remains on course to register its best season in Europe since the 1990s, when Marseille, Paris Saint-Germain, Monaco and others regularly featured in the latter stages of Uefa competitions.

A transformed, exuberant if still-not-quite-perfect PSG hope to go one better than the Thomas Tuchel side who lost the 2020 Champions League final to Bayern Munich, and Lyon gave Manchester United an almighty scare in the quarter-finals of the Europa League. Brest and Lille defied the odds by qualifying for the knockout stage of the Champions League, beating teams such as PSV, Atlético Madrid and the holders, Real Madrid, on the way. The conveyor belt of young talent shows no sign of slowing, the 17-year-old Ayyoub Bouaddi of Lille and PSG’s Désiré Doué the latest French academy products to break through on the biggest of stages.