The final pitted three-time winners Bayern Munich of Germany against Spanish club Valencia, who were appearing in their second consecutive final, with Bayern winning 5–4 on penalties after the two teams could not be separated through 90 minutes and extra time. Bayern reached the final by knocking out the competition's last two champions – Manchester United (who had beaten Bayern in the 1999 final) and Real Madrid, who beat Valencia in 2000. Valencia, meanwhile, had to play two English sides en route to the final, first beating Arsenal then Leeds United. The other teams involved in the knockout stage were Galatasaray of Turkey and Deportivo La Coruña of Spain.