Title holders Paris Saint-Germain squander a three-goal lead but hold on to beat Bayern Munich 5-4 in Paris.

Khvicha Kvaratskhelia and Ousmane Dembele scored twice each as Paris Saint-Germain beat Bayern Munich 5-4 in an epic first leg of their Champions League semifinal, an extraordinary encounter that became the highest-scoring match ever at this stage of the competition.

The first half alone on Tuesday night was wild, with Harry Kane giving Bayern the lead from a penalty only for Kvaratskhelia to equalise before Joao Neves headed the hosts in front at an enthralled Parc des Princes.

Michael Olise made it 2-2, but a Dembele penalty in first-half stoppage time had the reigning champions back ahead at the interval.

Kvaratskhelia, surely the standout player in this season’s Champions League, and Dembele both then scored again to have PSG seemingly out of sight, only for Dayot Upamecano to pull one back before Luis Diaz made it 5-4.

An unforgettable game – perhaps better even than last season’s semifinal between Inter Milan and Barcelona – leaves the tie between the continent’s two best teams of the moment wonderfully poised for next Wednesday’s return at the Allianz Arena, with a place in the final in Budapest on May 30 on the line.

Luis Enrique’s Parisians will be returning to Munich – scene of their 5-0 win over Inter in last year’s final – with the advantage, but Bayern will be confident they can overturn the narrow deficit at home.

The French champions are seeking to become just the second side in the modern Champions League era to retain the trophy, while the German champions are hoping to reach the final for the first time since 2020, when they defeated PSG to lift the trophy for the sixth time.

Vincent Kompany’s team arrived in Paris having scored 167 goals this season, led by the remarkable Kane, who had netted 53 times in 45 appearances.

This tie had a lot to live up to, after Bayern’s spectacular win over Real Madrid in the quarterfinals, but it was an instant classic as both teams showcased their devastating firepower.

Bayern went ahead in the 17th minute as Willian Pacho chopped down Diaz, and Kane made no mistake with the resulting penalty to make it 54 for the campaign.

The visitors won 2-1 here in November in the league phase thanks to a Diaz double, and they were the better team early on this time.

But their front-foot approach made them vulnerable to the counterattack, and Dembele should have equalised before the leveller came just after the midway point in the first half.

Kvaratskhelia’s genius on the wing has regularly been the difference for PSG recently, and he broke clear of Josip Stanisic down the left before cutting inside and firing into the far corner.

A classic Kvaratskhelia goal was followed by Neves heading in Dembele’s corner on 33 minutes.

The action was only just getting started, however, as French international Olise drove towards the PSG box before smashing in for 2-2 with his 20th of the season.

PSG then won a penalty at the end of the first half, when a Dembele cross struck the arm of Alphonso Davies, the Canadian making his first start in the Champions League this season after injury.

It was given by the Swiss referee after a VAR check, and Dembele beat Manuel Neuer to make it 3-2 at the interval – a lead which PSG added to after the restart, leaving Bayern stunned.

Achraf Hakimi’s assist was swept in by Kvaratskhelia for 4-2 on 56 minutes, the Georgian getting his seventh goal in seven games in the knockout phase.

Bayern had not been able to reset before Dembele surprised Neuer with a low shot in off the near post to make it 5-2 with his second of the night.

But Bayern were not done, as Upamecano headed in Joshua Kimmich’s free-kick for 5-3, taking Kompany’s side to 170 for their season tally.

Diaz, who was sent off in the November meeting, was then played in over the top and dribbled past Marquinhos before slotting in for the night’s final goal.

Kompany, watching from the stands due to suspension, would have been delighted with his team’s response – even if they were relieved to see Senny Mayulu’s late strike for PSG come back off Neuer’s crossbar.

Kane told reporters after the game that he was proud of his teammates for mounting a fightback to claw themselves back into the tie.

“It shows the character of our team. It has happened to us this season where we have come back from being down, and it is good to know we can do it at the highest level as well,” he said.

“I think we come away knowing we can hurt them.”

Atletico Madrid host Arsenal in the other semifinal first leg on Wednesday night.

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