For the first time since 1993, the tournament was held in more than one country, with games played in both USA and Mexico. The games were played in Mexico City, Miami, and for the first time in a northern US city, Foxborough. The format of the tournament stayed the same as in 2002: twelve teams were split into four groups of three, the top two teams in each group would advance to the quarterfinals. Colombia and Brazil were invited, with the latter sending an Under-23 team.
The US's Landon Donovan put four past Cuba in the quarterfinals in a 5-0 win, but the defending champions went out to Brazil in the semifinals. The South Americans scored a goal in the 89th minute and added a penalty in extra time to win 2-1. Mexico won their first championship since 1998, beating Brazil 1-0 in extra time.