Italian clubs have been a dominant force in European football lately. Inter Milan, currently leading Serie A, have contested two Champions League finals in three years. Fiorentina boasts back-to-back Conference League finals, and Roma has also reached two European finals in recent memory. This season, however, the story is starkly different, with Italy facing the very real prospect of having no representative in a European semifinal for the first time in seven years.

The Champions League campaign ended early, with all four Italian entrants—including reigning champions Napoli and last season's finalists Inter—exiting by the Round of 16. The disappointment extends to the Europa League and Conference League, where only Bologna and Fiorentina remain, and both face steep uphill battles.

Bologna, drawn against tournament favorites Aston Villa, fell to a 3-1 defeat at home in their Europa League quarterfinal first leg. Fiorentina's task in the Conference League is even more daunting, having suffered a heavy 3-0 loss to Crystal Palace in London. The odds from major sportsbooks now heavily favor the English sides to advance and potentially lift the trophies, leaving Italian hopes hanging by a thread.

If both clubs are eliminated, it will mark a sudden halt to Italy's impressive continental consistency. To find the last time this happened, we have to look back to the 2017-18 season. That summer was defined by a seismic Serie A transfer: Cristiano Ronaldo's blockbuster €112 million move to Juventus. The signing was a statement of intent, with the Bianconeri believing the Portuguese superstar was the final piece to secure their elusive Champions League crown.