Hungary were the overwhelming favourites to beat West Germany in the fifth World Cup final. They were seen by most people as the best team in the world, and had lost just once in the previous four years. Perhaps more importantly, they had beaten the West Germans 8-3 in a group match earlier in the tournament. However, German coach Sepp Herberger had gambled by fielding a weaker team in that match in the belief that his team could beat Turkey in a play-off, and it paid off as his unfancied team got all the way through to the final.
For the final, Hungary's inspirational inside-forward Ferenc Puskas returned to the team for the first time since the group meeting with West Germany, although he was not fully fit. Despite his lack of fitness, Puskas shot Hungary into the lead in only the sixth minute of the match when a shot from the tournament's leading scorer Sandor Kocsis rebounded to him. Just two minutes later, a stray back-pass in the German defence was collected by Zoltan Czibor who doubled Hungary's advantage, and the crowd must have been sensing another big win for the Hungarians.
West Germany had to respond quickly, and within minutes of the second Hungarian goal a terrific through ball from Hans Schäfer set up Max Morlock to cut the deficit in half. Before the twenty minute mark, the Germans sensationally drew level. Hungarian goalkeeper Gyla Groscis failed to collect a corner and Helmut Rahn, who had been recalled from playing in Uruguay when the tournament began, levelled the scores at 2-2.
After a breathless opening to the match, the remainder of the first half produced no more goals and the sides went in level at half-time. When the second half got underway, Hungary poured forwards in an attempt to re-establish their lead. West German goalkeeper Anton Turek was inspired, making several wonderful saves, and Hungary also hit the post, the bar and had a shot cleared off the line. West Germany were clinging on, but entered the final ten minutes still level at 2-2.
With six minutes to go, Rahn picked up a poor clearance just outside the Hungarian box and shot for goal. The ball skidded past Grosics and into the net to give the underdogs a surprise lead, and Hungary had little time to respond. Less than two minutes remained when Mihaly Tóth played the ball through to Puskas who seemed to have sent the match to extra-time at 3-3, but controversially an offside flag was raised, and the goal was disallowed. Hungary were furious, but the decision stood.
Hungary's last chance had gone with the disallowed goal, and seconds later the final whistle went to signal West Germany's first world title. The favourites had been beaten by a side few had picked as potential winners when the tournament began, and Hungary's best chance of winning football's biggest prize had gone.