Five editions of the UEFA Nations League have produced four champions, and Portugal have won two of them. Spain are the only nation to reach the final three times and the only one to lose more than once.
The competition is young enough that its whole history fits in one table — and short enough that a pattern has already formed.
Every final, 2019 to 2025
| Edition | Champion | Runner-up | Result |
|---|---|---|---|
| 2019 | Portugal | Netherlands | 1–0 |
| 2021 | France | Spain | 2–1 |
| 2023 | Spain | Croatia | 0–0, Spain won on penalties |
| 2025 | Portugal | Spain | 2–2, Portugal won on penalties |
The 2023 and 2025 editions both needed a penalty shoot-out to separate the finalists. Of the four finals played so far, two have been decided from twelve yards.
2019: The first one, on home soil
The inaugural finals were held in Portugal, and the hosts won them. A single Gonçalo Guedes goal beat the Netherlands in Porto. It was a tournament that established the template: a strong home advantage in the semi-final and final, and a Dutch side arriving as the form team of the league phase and leaving with nothing.
2021: France's comeback in Turin
The second finals moved to Italy, and produced the competition's best final. Spain led through Mikel Oyarzabal, and France overturned it with two goals in the second half, Karim Benzema and Kylian Mbappé scoring either side of the hour. It remains the only final decided in normal time by a team that had been behind.
2023: Spain break through, on penalties
The Netherlands hosted, and Spain finally converted a finals appearance into a trophy. After a goalless final in Rotterdam against Croatia, Spain won the shoot-out. It was a preview of what followed: Spain went on to win EURO 2024 and then the 2026 World Cup, making the 2023 Nations League the first piece of a historic three-year run.
2025: Portugal again, and Spain's third near-miss
The 2025 final in Munich paired Portugal with Spain — the reigning European champions against the eventual World Cup winners. Two goals apiece took it to a shoot-out, and Portugal won it. For Spain it was a third finals appearance in three editions, and a second consecutive defeat on penalties. For Portugal it was a second title, and a defence that begins this September.
The pattern
Two things stand out. First, the finals reward tournament-timed form rather than league-phase dominance: the Netherlands have topped their group and reached finals without winning one. Second, Iberia has owned the competition — Portugal and Spain have appeared in four of the eight finalist slots, and every final since 2021 has involved at least one of them.
What that means for 2026/27
Portugal begin the defence in Group A4, alongside Denmark, Norway and Wales — a group that looks gentle next to the one containing Spain, Croatia and England. Spain arrive as world champions with a point to prove in a competition they have reached three finals and won once. If the pattern holds, one of them is likely to be in the June 2027 final.
Two of the four Nations League champions are stocked in the current season's design: the Portugal 2026 home replica long sleeve ($49.90) and the Spain 2026 home replica ($45.90). If you want a shirt with a trophy already attached to it, that is where to start.
Frequently asked questions
Who has won the most Nations League titles?
Portugal, with two (2019 and 2025). France and Spain have one each.
Has any team reached the final more than once?
Spain have reached three finals (2021, 2023, 2025), winning one. Portugal and the Netherlands have each reached two.
Which edition had the most dramatic final?
The 2021 final in Turin, where France came from behind to beat Spain 2–1, remains the only final won by a team that trailed.
