BAYERN TAKE TITLE ON PENALTIES

Oliver Kahn proved the more dominant keeper, saving from Zlatko Zahovic, Amedeo Carboni and, crucially, Mauricio Pellegrino to help his side claim the title 5-4 on penalties.

The normal period was full of incident, with some eccentric decisions by Dutch referee Dick Jol dominating proceedings.

The opening ten minutes were a tale of two penalties, one scored by Valencia`s Gaizka Mendieta, the other missed by Bayern Munich`s Mehmet Scholl, as the Spaniards took advantage of some eccentric refereeing from Dutchman Dick Jol.

Both first-half penalties were somewhat contentious, the former more so, but Valencia capitalised on the one awarded to them to take an early advantage.

Jol was in the action again at the start of the second-half, awarding an equally controversial penalty to Bayern but, this time, Stefan Effenberg made no mistake to level matters.

The game then drifted towards extra-time, as neither team wanted to concede a heartbreaking late goal.

Extra-time was remarkably open, considering the spectre of golden goal was hovering over the both teams, but the match always seemed destined to move towards penalties - where Bayern proved the stronger to make up for the heartache of 1999.

In a mirror of Europe`s other club final, the Uefa Cup, the game got off to an exciting start, with referee Dick Jol awarding the first of three penalties.

John Carew escaped down the left and pulled the ball invitingly for Mendieta, who fluffed his shot which was blocked by the sliding Patrik Andersson.

Following a scramble, Jol inexplicably awarded a penalty - pointing to his arm as if to gesticulate that a stray hand was used by the grounded Bayern defender.

The Germans appeared stunned, and Mendieta compounded their woes by planting the ball past Kahn.

Bayern, though, kept their heads and went down to Valencia`s end of the pitch and were awarded a penalty of their own.

Effenberg made the most of a clumsy challenge from Jocelyn Angloma to tumble in the area - and Jol had no hesitation in evening up the penalty count.

Following a considerable delay, as Jol had to fend off vociferous Valencia protests, Mehmet Scholl stepped forward, but was then confronted by Santiago Canizares`s delaying tactics.

The Spaniard`s shenanigans appeared to work, as Scholl slammed his penalty straight at the keeper.

This miss appeared to rock Bayern, as Mendieta and Pablo Aimar were able to control the play in midfield, ably supported by the defensively minded Ruben Baraja, and they tested the German defence with fine runs and threaded passes.

Scholl had a free-kick that drifted narrowly past the post, and Willy Sagnol smashed a shot wide, but these attacking forays raised Bayern`s confidence.

Carew glanced a Mendieta free-kick narrowly wide at the end of the first-half, but Bayern carried their late pressure into the second 45 minutes and they were rewarded when Jol gave his third penalty of the night.

This did not happen before Valencia made a half-time, defensive, substitution that mirrored Alaves` decision to withdraw two-goal Javi Moreno in their Uefa Cup final against Liverpool the previous week.

Alaves ultimately were made to regret the decision, as they fell 5-4, and Pablo Aimar`s withdrawal - the Argentinian was replaced by David Albelda - appeared to mirror that move.

They, quickly, were made to regret the withdrawal of an attacking option as Bayern drew level through Effenberg`s penalty.

The decision, again, was hotly disputed, as Carsten Jancker appeared to foul Amedeo Carboni before the Valencia defender was forced to handle the ball on his way to ground.

This time, though, Canizares`s antics did not unsettle the penalty taker, as Effenberg sent him the wrong way to level the scores.

Effenberg appeared to grow in stature after his goal, and he produced glimpses of his imperious talent - the best of which was an impudent scooped pass over the defence that Jancker failed to accept.

Valencia coach Hector Cuper appeared to try and add some attacking impetus, with Aimar`s talents clearly being missed, and he threw the talented Zlatko Zahovic into the fray.

The Slovenian ace almost created a goal from a dangerous whipped corner, but Fabian Ayala failed take advantage of an abundance of space in the box.

Both teams retreated into their respective shells and the Giuseppe Meazza crowd were rewarded with a spell of midfield sparring, as neither team wanted to produce a mistake that would gift the other a goal.

Zahovic had a late chance to pinch the match, but he chose to take a touch six yards out rather that fire a shot first time and Kahn was able to smother the ball.

In injury-time, Mendieta inexplicably lost the ball on the halfway line and Jancker drove forward before unleashing a shot that flew agonisingly wide.

The golden goal period has been criticised for producing negative football, but the early exchanges of this final saw chances at both ends.

Giovane Elber, who had been quiet throughout the match and was later substituted, had a chance inside the box, with his back to goal, but shot straight at Canizares.

Valencia immediately rushed forward but a promising chance broke down on the edge of the box.

Scholl then threaded an intelligent ball inside the left back for Hasan Salihamidzic, but he had no options in the box and was forced into a shot that Canizares comfortably saved at the near post.

As the game flowed from end to end, Zahovic then showed great chest control in the box, but could not extract the ball from his feet and hit a weak shot straight at Kahn.

Jol had the opportunity to award a fourth penalty, one which looked clearer than the three previous decisions, as Kily Gonzalez appeared to swat the ball away with his hand, but the Dutchman waved away Effenberg`s pleads for a spot-kick.

Bayern were the dominant team in extra-time, Paulo Sergio had two good efforts, but Valencia did venture forward on occasions - with Carew and Mendieta going close without ever really threatening Kahn.

Penalties were always going to be a tense affair, and Valencia looked like they would make up for last year`s defeat at the hands of Real Madrid when Paulo Sergio blazed Bayern`s first shot over the bar.

However, despite Mendieta, Carew, Ruben Baraja and Kily Gonzalez scoring for the Spaniards, Bayern proved the stronger - with goals by Salihamidzic, Alexander Zickler, Effenberg, Bixente Lizarazu, Thomas Linke, and heroics by Kahn giving them their first European Cup since the mid 1970s.