Coming in to the 2001 U.E.F.A. Cup final, Liverpool had gained a reputation for playing boring football. Having already won the English F.A. Cup and League Cup earlier in the season, they were expected to grind out another narrow victory in a low scoring game. Their opponents, CD Alavés, had not been expected to reach the final at all and few gave them much chance of victory.
The final in Dortmund started perfectly for Liverpool, Markus Babbel heading in Gary McAllister's cross in the fourth minute to give them the lead. Many would have expected them to sit back on the lead, but twelve minutes later Michael Owen played a through ball to Steven Gerrard whose low shot doubled the lead. Alavés were in real trouble after less than twenty minutes, and were forced to make an early substitution, bringing on Iván Alonso.
Alonso made an immediate impact, heading in a cross from Cosmin Contra just four minutes after coming on to cut the deficit in half. Alavés were lifted by the goal, and started to create more chance. Twice Javi Moreno had chances to equalise, but shortly before half-time Liverpool scored again somewhat against the run of play. Michael Owen was brought down in the penalty area and Gary McAllister scored from the spot to give Liverpool a 3-1 advantage.
Liverpool seemed to be cruising, but Alavés came out fighting after the restart and just minutes into the second half Contra crossed again for Moreno to head home and pull another goal back. Liverpool were stunned, and Alavés took advantage to equalise two minutes later. Moreno hit a low free-kick under a jumping Liverpool wall to pull the scores level at 3-3. Liverpool suddenly had to attack again, and created several good chances, Gerrard almost scoring a freak goal from a cross.
Eighteen minutes from time Liverpool took the lead again, Robbie Fowler scoring from the edge of the area, but still Alavés refused to admit defeat. Almost relentless pressure on a packed Liverpool defence finally paid off a minute from the end when a corner from the right was headed in by Jordi Cruyff to level the scores again at 4-4 and send the match to sudden-death extra-time.
Three minutes into the extra period, Alavés had a goal disallowed for offside, but six minutes later they suffered a severe blow as substitute Magno Mocelin was sent off. In the final minute of the first half of extra-time, it was Liverpool's turn to be denied by an offside flag as they too had a "golden goal" disallowed. After the change of ends, Liverpool pushed forward trying to make the extra man count, but the game entered the final minutes without a breakthrough. Five minutes from time, Antonio Karmona was sent off for a cynical foul reducing Alavés to nine men, and from McAllister's free-kick Delfi Gelí headed the ball into his own net for the vital winning goal. In what was expected to be a tense, tight match, Liverpool had won one of the finest European finals by five goals to four.