INTERVIEW – Matthieu Stefani: “It wasn’t money that changed PSG’s destiny”

Paris Saint-Germain has become the first French club to win two Champions Leagues. This achievement concludes more than half a century of history, marked by successes, failures, crises, and rebirths. PSG, after so many yearsPublished by Écrin, Matthieu Stefani, entrepreneur and creator of the podcast Do It Yourself GenerationDavid Carzon, journalist and co-founder of Binge Audio, and Clémence Lepic, producer and co-founder of Collision Productions, recount this adventure from the club's creation in 1969 to its European triumph against Arsenal in May 2026. A PSG supporter for over a decade and creator of the podcast Do It Yourself Generation Matthieu Stefani returns for Interviews on the genesis of this work, the resilience of the Parisian club, the role of the supporters and the influence of Luis Enrique in the transformation of PSG.

Aimé Kaniki: How did the idea of ​​writing come about? PSG, after so many years ?

Matthieu Stefani: Originally, it wasn't even a book. With David Carzon and Clémence Lepic, we launched a podcast called flagships And it tells the story of great entrepreneurial ventures and major French brands. Many people don't necessarily realize it, but PSG is now a huge French brand. I've been a supporter of the club for a long time, a season ticket holder at the Parc des Princes since 2012. I take friends, clients, and my children there. As part of our "Fleurons" series, we decided to dedicate an episode to PSG. We started working on the topic and quickly amassed a huge amount of research. At one point, we realized we had already built a whole narrative, a complete story. When we saw how far we had gone, we thought it would be a shame to just do a podcast. That's how the book was born. We had to rewrite a lot of things because a podcast and a book aren't created in the same way. But all the material was already there. Our ambition was to tell the complete story of the club, from day one to the present day, with as many anecdotes as possible. We even updated the manuscript after the second Champions League final to have the most complete book possible.

What did you want to bring that was different compared to other books dedicated to PSG?

We have a different approach because we didn't come in with the perspective of sports journalists. I come more from the world of business, brands, and sagas. Football is obviously important, but what interested me most was understanding the club's DNA. Why PSG became what it is today. Why it inspires so much passion. Why it continues to attract so many fans despite all the disappointments it has experienced. What we discover by working on this story is just how strong this DNA is. There's the relationship with the fans, all the years of hardship, the battles, the missed opportunities. PSG's resilience is an integral part of its identity. I'm the first to admit that just twelve or thirteen months ago, I thought we might never make it. And now, when we look at this whole story, we understand that the club has become stronger thanks to everything it has been through.

Which episode made the biggest impression on you during your research?

Without hesitation, the creation of the club. I didn't know much about that history. The fact that PSG was initially called Paris FC, the merger with Saint-Germain, and then the separation. I found it absolutely fascinating. Today, when I watched Paris FC play, I simply thought it was another Parisian club. After working on the book, I see this history differently. I almost think of them as PSG's arch-rivals. I find that very romantic. It's both a football story and a French story. For me, it's probably the story that has most influenced me. I was also captivated by the entire Daniel Hechter era. You discover a completely different kind of football, with its own characters, excesses, and methods. It was a different time. All the big names associated with that period are fascinating.

Why are you saying today that it wasn't money that changed PSG's destiny?

Because that's probably the most surprising conclusion I reached while working on the book. For years, PSG chased stars. Pelé, Cruyff, and more recently Messi, Mbappé, and other big names. The club long sought its salvation in individual talent. When QSI arrived, many people thought the billions would quickly solve the problem. I, too, at one point, thought it would inevitably work out eventually. And then the years went by. We experienced eliminations, disappointments, frustrations. For a long time, we believed that even with all those resources, PSG would never succeed. Today, what's rather funny is that we realize it wasn't money that changed the club's destiny. Of course, financial resources played a significant role. But what truly transformed PSG was Luis Enrique and the team's cohesion. For the first time in a very long time, we have a team that fully respects the institution. Today, there are still stars, but the club comes first. You can feel it on the pitch. You can feel it in the general mindset. For the past two seasons, the institution has once again become more important than individual players.

Why was it important for you to also talk about leadership and brand strategy?

Because a club isn't just what happens on the pitch. A brand, a franchise, or an institution is built over time. PSG didn't exist. It had to be created. It was built through successes but also through countless trials. When you look at the various leaders, you understand that they all contributed to shaping the club. Daniel Hechter, Canal+, QSI, Nasser Al-Khelaïfi, Leonardo, Luis Campos… each has left their mark. Take Nasser Al-Khelaïfi, for example. You may like him or not, but he's someone who never gave up. He's evolved a lot. In the beginning, he was very impatient. Today, he understands that great successes take time. In all businesses, leaders set a direction, a culture, a vision. In football, it's exactly the same. And then there's also the brand dimension. I was recently in Ukraine and I was struck by the number of PSG jerseys I saw. Perhaps even more than those of Real Madrid or FC Barcelona. Of course, victories count. But there's also all the work done over the last ten years on the club's image. PSG has become a global brand. It has also become one of the symbols of Paris. For a long time, it seemed inconceivable that a city like Paris wouldn't have a club capable of dominating European football. Today, the stars finally seem to be aligned.

What role do the fans play in the history of PSG?

This is probably one of the things I understood best while working on this book. To be honest, at first, I didn't always understand the influence that certain ultras or supporter groups could have. I'm a PSG supporter, but I'm also someone who's very interested in businesses, brands, and narratives. Then I realized something very simple: the fans are always there. Players come and go. Coaches come and go. Managers come and go. The fans remain. I've experienced matches where PSG were losing by a large margin, and the stands kept singing non-stop. This loyalty is exceptional. When you understand that, you understand much better why the club has become what it is today. Even from an economic standpoint, it's fascinating. After the first Champions League victory, I went with my two sons to the Parc des Princes store. I found myself buying two jerseys, whereas a few years ago I probably would have laughed at myself. But it wasn't just a purchase. It was a memory. A way to participate in something bigger. A form of passing on knowledge, too. There's a lot of romance in football. You can make fun of the ultras who sing for ninety minutes or the rivalries between clubs. But ultimately, all of that contributes to building a collective identity. That's also what makes this sport so beautiful.

Which PSG character would you like to see on Génération Do It Yourself?

Luis Enrique, without a doubt. I admire this man immensely. When you look at what he's been through in his personal life, you can't help but be impressed. Many people would have been destroyed by such trials. He continues to move forward with incredible strength. When he talks about his daughter, it still gives me chills today. He explains that he was lucky to have her in his life and that he will always cherish that. I find this way of seeing things extremely inspiring. Beyond the human aspect, I also admire his intelligence. Nothing is left to chance. Everything is carefully considered. When you observe certain sequences of play, certain penalty shootouts, or certain tactical decisions, you understand that there's an exceptional level of preparation behind them. He's someone who is constantly seeking to learn, understand, and improve. I deeply admire this type of personality.

What would you like readers to remember after they have finished this book?

I would like them to understand that PSG wasn't built in just a few years. Its history is often reduced to the arrival of Qatari ownership. In reality, the club is the result of over fifty years of history. There have been successes, failures, incredible figures, missed opportunities, moments of joy, and periods of doubt. All of this has contributed to shaping PSG's identity. What David Carzon, Clémence Lepic, and I wanted to do was tell this story in its entirety. The ambition was simple: to write the most comprehensive book possible on the history of Paris Saint-Germain, with all the anecdotes, all the key figures, and all the moments that have allowed the club to become what it is today.

Interview by Aimé Kaniki