Ranking potential Champions League finals: Bayern Munich vs. Arsenal would be special, but it's not No. 1

Atletico Madrid will take on Arsenal in the semifinals, while reigning champions Paris Saint-Germain will face Bayern Munich

The semifinals are set for this season's edition of the UEFA Champions League, the last four teams standing each reaching the last four with unique and compelling arguments to reach the May 30 final at Budapest's Puskas Arena.

Reigning champions Paris Saint-Germain will take on Bayern Munich in a clash between one of Europe's new powerhouses and one of the continent's historic giants, an entertaining two-legged series likely ahead. Both sides prefer a high-intensity, attack-minded style of play, unlike most of the matches seen across the Champions League this season, though there was a preview of this semifinal matchup with Bayern's 2-1 win in Paris during the league phase, a win that first confirmed their credentials for a deep run.

In the other semifinal, Atletico Madrid will take on Arsenal as both sides inch closer to something that is few and far between in their histories – a spot in the Champions League final. There's a layer of unpredictability already because of the Gunners' form, the team advancing despite a run of just one win in their last five so it is entirely unclear what version of the team will turn up when European play resumes. Atleti, meanwhile, have surprised with a deep run but have survived thanks to their tactical nuances, which make them a contender no matter what tasks lie ahead.

It sets up for a dramatic finish to the season, no matter which way things shake out. Every potential matchup in Budapest promises some level of thrill, no matter which team turns up. Much as a majority of the quarterfinal results, this ranking will come down to small details that distinguish one clash over the next. Here's a look at what might await in Hungary in late spring – and which meeting might offer the most entertainment value.

4. Paris Saint-Germain vs. Arsenal

It almost feels rude to rank this potential matchup last because if last year's meeting in the semifinals was anything to go by, this feels unlikely to be a boring meeting but such is the quality of these semifinalists. There are a couple of things that count against this potential fixture, though – last year's clash was ultimately one-sided, even if PSG are an entertaining watch when they are utterly dominant. There's also a little less glamor to the game when the reigning champions are back in the final, while Arsenal will always get dinged for a preference to suck the life out of games. With an elusive title on the line, it feels somewhat likely that they would go down that road and kill entertainment value along the way.

3. Paris Saint-Germain vs. Atletico Madrid

A bit like a potential meeting between PSG and Arsenal, there's a possibility that Atleti decide to choose defense over attack in the hopes of winning their first-ever Champions League title. Fifteen years after first assuming the helm, Diego Simeone has led his side through another tactical transformation, one that helped them get past Barcelona in the quarterfinals. They have an ultra-defensive mode but are also happy to cede possession while posing plenty of attacking threat, so there's a level of unpredictability to this matchup. Plus, the prospect of Antoine Griezmann playing the final game of his storied Atleti career in the Champions League final – and potentially winning it – is hard to resist.

2. Bayern Munich vs. Arsenal

This is perhaps the most likely of the potential finals, the narratives perfectly setting up for this one. The two have been the oddsmakers' favorites to win the whole thing since the early stages of the season and as they've progressed, they have become dramatic foils to one another. The Gunners' defensive strengths are well-documented at this point and that will make for a fascinating matchup against Bayern, who match a high intensity with attacking flair and, according to Vincent Kompany "has, in the end, earned the right to play the way they do." The storylines for the eventual winner are equally compelling – Arsenal's long wait to reach the mountaintop will be complete, while Bayern's long wait to return will be over thanks to a new coach who will stake his claim as the game's next great tactical mind.

1. Bayern Munich vs. Atletico Madrid

Arsenal's propensity for a defensive style will always count against them in a ranking like this, in part because Atletico Madrid might actually make for a more interesting foe against Bayern. Considering their wide-ranging skillset, it will be hard to know which approach they will utilize against Bayern, which makes them the most formidable foe against Europe's most exciting team. The crowning achievement that awaits one of these teams will be equally satisfying to every neutral tuning in – Kompany will have completed an impressive career arc, while Harry Kane and Michael Olise will have well-earned silverware if Bayern win. Griezmann's potential fairytale ending, meanwhile, would be entertaining in its own right as would Simeone's transformation of a club that transformed from Champions League outsider to European elite under his watch.