Paris Saint-Germain FC were founded in 1970 following the merger of Paris FC and Stade Saint-Germain. PSG made an immediate impact, winning Ligue 2 and thus achieving promotion to Ligue 1 in their first season. Their momentum was soon halted, and the club split in 1972. Paris FC remained in the top flight, while PSG had to continue in Division 3. After two consecutive promotions, PSG quickly returned to the top flight in 1974 and moved to the Parc des Princes.

The club's first trophies arrived in the 1980s. Led by players such as Safet Sušić, Luis Fernandez and Dominique Rocheteau, the Parisians claimed back-to-back Coupe de France in 1982 and 1983, and their first Ligue 1 title in 1986. A steep decline followed, but the takeover by Canal+ in 1991 revitalized PSG. Led by David Ginola, George Weah and Raí, the club won nine trophies and reached five consecutive European semi-finals during the 1990s. Notably, Paris captured their second league title in 1994 and the UEFA Cup Winners' Cup in 1996, with the legendary Luis Fernandez now as manager.

At the beginning of the 21st century, the Parisians were struggling to get back to the top despite the magic of Ronaldinho and the goals of Pauleta. Five more trophies followed: three Coupe de France, a Coupe de la Ligue and a UEFA Intertoto Cup, but PSG became better known for struggling through one crisis after another. Inevitably, Canal+ sold the club to Colony Capital in 2006. However, the situation only worsened, and PSG spent the next two seasons avoiding relegation.

The club's fortunes changed dramatically with the arrival of Qatar Sports Investments, operated by the government of Qatar, as owners in 2011. Since then, PSG have invested heavily in signings of world-class players such as Zlatan Ibrahimović, Lionel Messi, Neymar and Kylian Mbappé, the latter two being the most expensive transfers in football history. As a result, PSG have dominated French football, winning 38 trophies: twelve league titles, eight Coupe de France, six Coupe de la Ligue and twelve Trophée des Champions. They have also become a regular in the knockout stages of the UEFA Champions League, reaching the final for the first time in their history in 2020, winning their first title in 2025 as part of a continental treble, and retaining the title in 2026. PSG also claimed the 2025 UEFA Super Cup and the 2025 FIFA Intercontinental Cup, achieving an unprecedented sextuple.

Early years (1970–1973)

Merger and split

By the late 1960s, Paris lacked a club competing in the top division of French football. In response, the French Football Federation (FFF) supported the creation of a major club based in the capital. Backed by a group of Parisian businessmen, including Guy Crescent and Pierre-Étienne Guyot, Paris FC was founded in 1969, initially without players, a stadium, or a place in the league system. Crescent and Guyot subsequently convinced Henri Patrelle, president of Stade Saint-Germain, a club from Saint-Germain-en-Laye located approximately 15 km west of Paris that had recently secured promotion to Division 2, to join the project. Paris Saint-Germain FC was formed on 17 June 1970 through the merger of the two clubs. On 26 June 1970, Guyot was elected the club's first president. Following approval by the general assemblies of both clubs earlier that year, the merger was officially validated by the Paris Police Prefecture on 12 August 1970, a date regarded by the club as its official foundation date. The registration was subsequently published in the Official Journal of the French Republic on 27 August 1970.

Paris FC contributed financial backing, while Stade Saint-Germain provided the sporting infrastructure, including its place in Division 2, the Camp des Loges training centre, manager Pierre Phelipon, and most of the playing squad, notably Bernard Guignedoux, Michel Prost and Camille Choquier. PSG further strengthened the team with the signing of French national team captain Jean Djorkaeff. The club played its first official match on 23 August 1970, drawing 1–1 with Poitiers. Guignedoux scored PSG's first goal, converting a free kick. In its inaugural season, PSG won the Division 2 title and secured promotion to Division 1. During the same campaign, Guy Crescent succeeded Pierre-Étienne Guyot as club president.

In the summer of 1971, the Council of Paris threatened to withdraw its financial support unless the club adopted the name Paris FC and severed its ties with Saint-Germain-en-Laye. Vice-president Henri Patrelle opposed the proposal, while most former Paris FC directors supported it. In December 1971, Patrelle succeeded Guy Crescent as club president. Despite a successful debut Division 1 campaign, in which the club finished 16th and secured its top-flight status, he was unable to persuade the council to withdraw its ultimatum. A vote of the club's members subsequently failed to approve the proposed name change, resulting in a split on 20 June 1972. Guyot and Crescent joined Paris FC, which retained its place in Division 1, while PSG was reduced to its amateur section and administratively relegated to Division 3 under Patrelle's leadership.

Most of the first-team squad, including captain Jean Djorkaeff and Bernard Guignedoux, were under professional contracts and therefore remained with Paris FC, while manager Pierre Phelipon departed upon the expiration of his contract. Only Camille Choquier, Patrice Py, Jean-Louis Leonetti, Bernard Béréau and Jean-Louis Brost remained with PSG for the 1972–73 season. Under manager Robert Vicot, PSG secured immediate promotion to Division 2 with a young squad that included academy graduate Éric Renaut, Othniel Dossevi, Michel Marella, Jacques Laposte and Christian André, the main architect thanks to his 27 goals in 35 matches. PSG finished second in Group West, six points behind Quevilly, and initially missed out on promotion. However, after Quevilly announced that it would forgo promotion because of financial difficulties, PSG was awarded its place in Division 2 for the following season.

Daniel Hechter years (1973–1978)

Return to the top flight

During its first two years of existence, Paris Saint-Germain operated as a fan-owned club, using a membership system similar to that of major Spanish football clubs. This structure changed following the split with Paris FC in 1972. The PSG Association, which initially counted around 18,000 members, lost much of its influence, and the club soon encountered significant financial difficulties. Seeking new sources of funding, club president Henri Patrelle gradually ceded control to a group of wealthy French investors. Led by fashion designer Daniel Hechter, actor Jean-Paul Belmondo, and entrepreneur Francis Borelli, the consortium provided the financial resources necessary to stabilize the club after its promotion to Division 2 in 1973. Hechter also introduced PSG's new home kit, later known as the "Hechter shirt". With renewed financial backing, the club appointed former French international Just Fontaine as sporting director, although he effectively served as head coach, and recruited several experienced players, including Jean Deloffre, Louis Cardiet, Jacky Bade, and Jean-Pierre Dogliani, regarded as the club's first major star.

PSG played its first match at the Parc des Princes on 10 November 1973, defeating Red Star 3–1 during the 1973–74 season. Othniel Dossevi scored the club's first goal at the stadium. PSG also began its tradition of strong performances in the Coupe de France performances, reaching the quarter-finals, reaching the quarter-finals. In the league, the club finished second in Division 2 Group B, four points behind Red Star, thereby qualifying for the promotion play-offs against Valenciennes. After losing the first leg 2–1, PSG overturned the deficit with a 4–2 victory at the Parc des Princes on 4 June 1974, securing promotion to Division 1. Following the final whistle, Fontaine suffered a heart attack and collapsed on the pitch. He subsequently recovered and joined the promotion celebrations. Since that promotion, PSG has remained continuously in the top division of French football. Five days later, Hechter succeeded Patrelle as club president, having previously served as chairman of the management committee.

In a notable coincidence, Paris FC were relegated to Division 2 in 1974 just as PSG gained promotion to the top flight. As a result, PSG inherited the use of the Parc des Princes and has played its home matches there ever since. Ahead of the 1974–75 season, Hechter authorized a record transfer fee of approximately €205,000 for Algerian forward Mustapha Dahleb. Dahleb and François M'Pelé combined to score 50 goals during the campaign, but PSG struggled in the league and finished 15th.

PSG's Coupe de France campaign was the highlight of the season. The club defeated Sochaux 5–0 on aggregate in the round of 16 to set up a quarter-final tie against Olympique de Marseille. PSG fell two goals behind in the first leg at the Stade Vélodrome before François M'Pelé scored twice to keep the Parisians' qualification hopes alive. Following the match, Marseille supporters attacked the PSG team bus, an incident that M'Pelé later described as the origin of the rivalry between the two clubs. PSG won the return leg 2–0 and advanced to the semi-finals, becoming the first Parisian club since Stade Français in 1965 to reach that stage of the competition. Their campaign ended with a narrow defeat to Lens in the semi-finals.

Big signings, mid-table team

Despite an ambitious recruitment campaign ahead of the 1975–76 season, which included the arrivals of Humberto Coelho and Jean-Pierre Tokoto, PSG finished 14th in Division 1. The season was also marked by tensions between manager Just Fontaine and captain Jean-Pierre Dogliani, culminating in Fontaine removing Dogliani from the captaincy after officially succeeding Robert Vicot as head coach earlier in the campaign. In the Coupe de France, PSG reached the quarter-finals for the third consecutive season. The club also took an important step in youth development with the opening of its first academy centre at the Camp des Loges in November 1975. Among the first players to emerge from the academy were Jean-Marc Pilorget and Thierry Morin, both of whom made their professional debuts against Stade de Reims in December 1975.

The 1976–77 season marked the beginning of a new era. Dogliani retired from professional football, while Velibor Vasović succeeded Fontaine as manager. The first foreign coach in PSG's history, Vasović arrived with the objective of securing qualification for European competition. Following a poor start to the season, PSG recovered but ultimately finished ninth in the league. Mustapha Dahleb scored 26 goals in all competitions, but the club nevertheless fell short of its European ambitions. Vasović resigned before the end of the campaign, and former PSG goalkeeper Ilija Pantelić oversaw the team's final four league matches.

Jean-Michel Larqué was appointed player-manager for the 1977–78 season. Although he had previously retired as a player, Larqué returned to the field after PSG failed to complete the transfer of Olympique Lyonnais playmaker Serge Chiesa. He became the second player-manager in the club's history after Pierre Phelipon and remains the last to have held the role. Despite the arrivals of several notable players, including defenders Jean-Pierre Adams and Ramón Heredia, PSG finished 11th in Division 1. Argentine striker Carlos Bianchi was the team's standout performer, finishing as the league's top scorer with 37 goals in 38 matches. He was also the final major signing made during Daniel Hechter's presidency.