A Deluxe, Deficient Soccer Brand

French soccer titan Paris Saint-Germain has the roster, financial muscle, and glitzy money-making qualities to rival any sporting entity. Apart from one thing: PSG lacks the ingredients to cap it all off and become the best in Europe. After more Champions League frustration, reaching that point appears more farfetched than ever.

Even minus Neymar, an enviable lineup including Lionel Messi and Kylian Mbappé was not enough to drag the side into the competition’s last eight, as Bayern Munich ensured it would be there instead, crushing the team’s dream of a maiden elite European trophy for another year.

With Cristiano Ronaldo now in Saudi Arabia, high-earning strikers Messi and Mbappé are unrivaled in making millions on the continent. And they are part of a brand whose prowess revolves around money generally. Beyond its kit deal with Nike—encompassing Air Jordan and reportedly worth up to €80 million ($85 million) annually—PSG is as much a fashion statement as a soccer one; a Qatari-charged enterprise naturally drawn to business dealings, such as its rewarding partnership with native Qatar Airways. It all rolls into one.

And yet, another departure in this elusive tournament underlines PSG’s lacking. It’s a glossy image without the final touch, a problem that even Messi cannot airbrush. Bayern has the qualities, as does Real Madrid and other decorated winners. PSG must again take the consolation of a probable league trophy, crazy as that may sound, with the campaign in its final third. Déjà-vu is creeping in.

Following the 3-0 aggregate defeat, head coach Christophe Galtier fielded questions on what lies ahead: “It’s too early to talk about it,” he said. “My future obviously depends on my sports management and president (Nasser Al-Khelaifi).

“There is a disappointment. That’s how it is. The club pinned a lot of hopes on this competition. I’m staying the course. I’m still focusing on the end of the season with a lot of energy and determination.”

The irony against German conqueror Bayern was that PSG, for all its multimillion-dollar stars, couldn’t score in over three hours across two fixtures, home and away. And yet, this cannot simply result in criticism towards the players, either in attack or defense.

Aged 24, Mbappé is a winner, having won almost two World Cups, something Messi has added to his club and country honors. The same pedigree applies to Sergio Ramos at the back. Meanwhile, the less decorated Achraf Hakimi has ventured above and beyond expectations internationally with Morocco and has shone with many prestigious teams.

PSG lacks an uncompromising will to win against the best from Germany, Spain, and England, and that must come from inside. Regularly prospering in Ligue 1, it can get away with cute soccer against opponents in France, knowing it possesses the technical flair to beat anyone in the country. Champions League competition requires another gear, however, to run harder and faster, to recover from setbacks in pressurized games—which eventual winners all have in abundance.

Perhaps the money craze derails PSG. Despite the purse, the Parisiens can no longer be considered a favorite for this prize. An underdog mentality might help it, one where nothing comes easy. Whatever the transactions and transfers across offices in France and the Middle East, PSG can only make that final leap by cultivating a more sustainable philosophy on the training ground—one built on heart and soul, not just dollars. The club hierarchy has to reboot, from the executive level to the sporting setup, to achieve this.

Hiring countryman Galtier—the first French trainer in six years—was supposed to. The result has been an all too familiar story, just with another face watching a team crash out from the sidelines. Al-Khelaifi and his associates must now decide between loyalty or starting fresh.

There is no easy way out if PSG has any design on triumphing in Europe. Success waits for nobody, and any exclusive Super League—were PSG to jump ship—could be a long way off, especially with a reconfigured 36-team Champions League planned from next year and breakaway Italian side Juventus punished for financial irregularities in Serie A.

From a more positive standpoint, Mbappé recently suggested performances will have no bearing on his future in France, with Real still courting the valuable winger ahead of a possible transfer. Amid the letdown and the noise around him, he remains consistent with this message.

Keeping Mbappé will always be a good idea, while academy midfielder Warren Zaïre-Emery, aged 17, appears like a genuine talent after storming into the senior squad. PSG has everything in place. But the brand must foster an inspired, winning culture to reach the next level. With capable players in the system, it’s high time the penny drops and a refreshed project takes shape.