In the summer of 1994, Effenberg then moved back to Gladbach, where he appeared in 118 league matches, scoring 23 goals, before Bayern re-signed him in 1998. Effenberg's second spell with the Bavarians was much more successful. He collected three Bundesliga titles in a row, and Bayern also reached two UEFA Champions League finals, the first of which was a 1–2 defeat to Manchester United F.C. in 1999. Bayern returned to the final in 2001 with Effenberg as captain. He scored Bayern's equalising goal from the penalty spot in a victory against Valencia (1–1, penalty shootout win). After the final, Effenberg was named the Most Valuable Player of the 2000–01 UEFA Champions League. After his departure, club fans voted him one of the eleven greatest Bayern players of all time.