Matchwas delayed 10 minutes due to traffic issues for teams
Alexander-Arnold misses out through injury
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Live Reporting
Neil Johnston
Date for your diariespublished at 22:33 British Summer Time 9 July
22:33 BST 9 July
FT: PSG 4-0 Real Madrid
So, the dust is settling on a spectacular Paris St-Germain performance and all thoughts are starting to turn to Sunday and the Club World Cup final against Chelsea (20:00 BST kick-off).
The European champions will undoubtedly start as favourites but will Enzo Maresca's side do what Real Madrid could not - and stop PSG in their tracks?
'We are in a special moment'published at 22:29 British Summer Time 9 July
22:29 BST 9 July
FT: PSG 4-0 Real Madrid
Paris St-Germain Paris St-Germain
PSG manager Luis Enrique, speaking to DAZN: "I feel great. I think we started the game very well and we are happy with the performance. With those conditions it's tough but we are in a special moment during a special season".
On the return of Ousmane Dembele: "It's the first match in this tournament that we can use [start] Ousmane and I think he has been our best player this season. He deserves to win everything because he gives his all to the club and has done all season".
On facing Chelsea in the final: "We are going to try [and win]. We just have to take one more step against a good team like Chelsea but we are almost there and we want to make history for our club".
A reminder that this was PSG's 64th match of 2024-25 - 34 league games, 17 in the Champions League, six French Cup ties, six Club World Cup matches and one in the French equivalent of the Community Shield.
There were times in this game where they looked like it was their first match of the campaign - they looked that energetic.
One more game for PSG to go before the curtain comes down on an epic season.
The European champions will be back at the MetLife Stadium on Sunday for the Club World Cup final against Chelsea.
'A perfect performance'published at 22:19 British Summer Time 9 July
22:19 BST 9 July
FT: PSG 4-0 Real Madrid
PSG
PSG midfielder Fabian Ruiz, speaking to DAZN: "It was an incredible game. A perfect performance, especially considering the heat. It was a brilliant performance against a really top team in Real Madrid and we are really happy we have gone through."
On his two goals: "I am happy for the goals of course but mostly I am just happy about the win. Now we celebrate because we are through to the final."
On Chelsea: "It will be difficult. We know they are a good team and they are doing well but hopefully we can win it and finish the season in the best way possible."
There will be frustration at Real Madridpublished at 22:17 British Summer Time 9 July
22:17 BST 9 July
FT: PSG 4-0 Real Madrid
Nizaar Kinsella BBC Sport football news reporter at the MetLife Stadium
Even though this is the first competition of new manager Xabi Alonso's short tenure, there will be frustration around the demanding supporters of Real Madrid.
Real had intended to take this competition seriously and paid £8.4m to take Trent Alexander-Arnold three weeks early from Liverpool and signed former Bournemouth defender Dean Huijsen to boost the squad going into the tournament.
They have no trophy to show for it, have seen their pride hurt tonight but will bank around £60m for reaching the semi-final to cover the fees for both defensive signings.
Real Madrid have suffered their first loss at the Fifa Club World Cup (21st match, including previous formats). Their four goals are the most they have allowed in any match in the competition.
By the way, Polish referee Szymon Marciniak blew the full time whistle about 10 seconds after the 90 minute mark. No lingering added time on this occasion.
Out-classed, out-fought, out-played...and out of here. Real Madrid are heading home. Xabi Alonso's side need to get over this result quickly. Their first game of the 2025-26 La Liga season is against Osasuna on 19 August.
Get Involvedpublished at 21:55 British Summer Time 9 July
21:55 BST 9 July
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Real Madrid bought Mbappe for these sorts of games. And where is he? Seems the best thing PSG did was sell their problem child.
Anon
At what point do we start talking about Mbappe in the same way we talk about other "big" names who just don't turn it on when on the biggest stage? He gets a pass every time. Enough. He's been seen. He's been played
Ousmane Dembele (l) is the favourite to win the Ballon d'Or
Emlyn Begley
BBC Sport journalist
Paris St-Germain demolished Real Madrid to set up a Fifa Club World Cup final against Chelsea on Sunday.
This semi-final tie at the MetLife Stadium was over as a contest within 24 minutes as the Champions League winners tore the Spanish side apart.
Fabian Ruiz tapped in the sixth-minute opener following a big mistake from Real defender Raul Asencio - after the referee let play continue following Thibaut Courtois' foul on Ousmane Dembele.
French winger Dembele raced away three minutes later to finish calmly after a mis-kick from Antonio Rudiger.
Ruiz then slotted home the third after a fantastic give-and-go between Achraf Hakimi and Dembele.
Real, who were missing the injured Trent Alexander-Arnold, offered little in response and Goncalo Ramos added a late fourth for PSG to cap a dominant display.
What was the main talking point?
PSG's all-time top scorer Kylian Mbappe was on the pitch to witness another masterclass… by his former side.
Since the France striker left for Madrid a year ago on a free transfer, PSG have become an infinitely better team and are looking to make the Club World Cup their fourth trophy of 2025 (five if you count France's version of the Community Shield).
And despite a combined 48 goals and assists from Mbappe in 2024-25 for Real, they have ended the campaign without a trophy.
No team can handle the pace, passing and pressing of Luis Enrique's PSG side, who thrashed Inter Milan 5-0 to win the Champions League and have beaten Atletico Madrid 4-0, Bayern Munich 2-0 (with nine men) and now Real Madrid 4-0 in the United States.
Ruiz scored twice but his midfield partners were fantastic too. Real could not handle PSG's front three, nor Hakimi at right-back.
There was an emotional goodbye for 39-year-old Croat Luka Modric, who made his 597th and final appearance for Real and will join AC Milan now.
The standout stats
Dating back to the Coupe de France final, PSG have won their last five knockout round matches in all competitions by a combined score of 18-0.
Real Madrid, who had never lost a Club World Cup match before, conceded three goals in the opening 25 minutes of a match for the first time since 9 November 2003 against Sevilla in La Liga.
What is next for these teams?
PSG play Chelsea in Sunday's final, which will also take place in New Jersey. They have back-to-back games against London sides, starting 2025-26 off with the Uefa Super Cup against Tottenham on 13 August.
Real Madrid will not be action again until their opening La Liga game. At the moment that is due to be at home to Osasuna on 19 August, although Real are trying to get that game postponed to give them a longer break.