The 2001 UEFA Champions League Final was a football match that took place at San Siro in Milan, Italy, on 23 May 2001, to decide the winner of the 2000–01 UEFA Champions League. The match pitted Bayern Munich against Valencia. The match finished in a 1–1 draw, but Bayern clinched their fourth title by winning 5–4 on penalties. This was also their first European Cup title in a quarter-century, also representing Valencia's second consecutive final defeat (2000 and 2001). Due to all the goals scored by penalties and the penalty shootout needed to decide the winner, this UEFA Champions League match became an "all-penalty" final and the only one ever to happen to this day. The 2001 final saw the two previous seasons losing finalists clash, Bayern Munich lost to Manchester United in the 1999 final and Valencia lost to Real Madrid in the 2000 final.
This was the sixth European Cup final to be decided on penalties, and the second under the Champions League format. This was Héctor Cúper's third consecutive European final defeat (after his Mallorca side lost the 1999 Cup Winners' Cup Final and Valencia lost to Real Madrid in the 2000 Champions League final) while Ottmar Hitzfeld claimed his second Champions League title after he won it with Borussia Dortmund in 1997. He became the second coach in European Cup history, after Ernst Happel, to win the competition with two clubs.
Valencia opened the score early on with a Gaizka Mendieta penalty in the third minute after a prostrate Patrik Andersson was deemed to have handled the ball in the penalty area. Only a few minutes later, Bayern Munich were awarded a penalty after Jocelyn Angloma fouled Stefan Effenberg in the penalty box, but Mehmet Scholl's kick was saved by the legs of Santiago Cañizares. Bayern were awarded another penalty early in the second half, this time after Amedeo Carboni handled the ball while competing for a header with Carsten Jancker. This time, Stefan Effenberg took the penalty kick and sent Cañizares the wrong way to level the scores at 1–1. The scores remained level for the remainder of normal time and throughout the 30 minutes of extra time, so the match went to penalties.