On this day in 2001, Valencia CF took part in their second Champions League final, taking on Bayern Munich in Milan. The appearance came one year on from their defeat against Real Madrid in Paris, and again fate would be cruel to the team from Mestalla.

Bayern, who themselves had suffered a loss at the last moment in the competition two years prior at the hands of Manchester United, were three-time winners of the European Cup (in 1974, 1975 and 1976). They had reached three finals that they had lost, and were attempting to become champions for the first time in 25 years.

“I would give my life, and future lives, to win this final,” said Valencia CF boss Héctor Cúper in the run-up to the game.

“We have corrected all of the mistakes that we made last year against Real Madrid. For Valencia CF and for me it is an honour and a privilege to play in a second final in a row. It would be worse to have to watch the final on television.”

With lessons learned, Valencia CF were seen as favourites by football legend Pele: “They are a better team and they play more football. I don’t like the Bayern side under my friend Franz Beckenbauer -they are too defensive.”

The game could not have started better. Gaizka Mendieta put Valencia CF ahead from a penalty just two minutes after kickoff, and four minutes later Santiago Cañizares would save a spot kick from Mehmet Scholl to maintain the lead.

It would last until halftime, but shortly after the restart things would return to all-square. A third penalty of the game was given when Amedeo Carboni committed a foul inside the box, and Stefan Effenberg finally beat Cañizares from 12 yards to make it 1-1.

That was how it stayed at the final whistle, despite a clear chance for Zahovic in the 84th minute that was kept out by Oliver Kahn.

Extra time also failed to decide a winner, and so the contest went to penalties in front of a nervous 75,000 fans at San Siro.

Bayern took the first penalty, but Paulo Sergio shot wide. Mendieta scored VCF’s first, followed by Salihamidzic, Carew and Zickler. Zahovic was again thwarted by Kahn, but Cañizares made a save from Andersson. Carboni missed, whilst Effenberg and Baraja put their penalties away.

In sudden death, there were successful conversions for Lizarazu, Kily González and Linke, putting pressure on Mauricio Pellegrino. To the despair of the team, his left footed shot was kept out by Kahn, and a valiant Valencia CF effort ended in the cruelest way possible.

Cañizares, Pellegrino, Mendieta, Carew, Ayala (Djukic, min. 90), Carboni, Sánchez (Zahovic, min. 66), Kily González, Baraja, Angloma and Aimar (Albelda, min. 46) were the men out on the pitch that day, the closest Valencia CF have come to winning the Champions League.