2000: Valencia
Beaten by: Real Madrid (3-0)
Following season’s finish: Runners-up
Having finished fifth in La Liga during the 2000/01 season, and therefore knowing they would not be there for the Champions League’s next instalment, Valencia became one of only two teams to ever lose consecutive European Cup finals in 2001 (the other being Juventus).
After falling to Real Madrid in 2000, it was Bayern Munich who beat Los Che a year later in a final decided by penalties in more ways than one. Gaizka Mendieta put Valencia a goal up against Bayern from the spot before ‘keeper Santiago Cañizares saved a penalty awarded to their opponents minutes later. Bayern did not miss their next penalty earned early in the second half, though. The extra practice served them well and Bayern won the eventual shootout.