UEFA Champions League Upsets That Give All Fans Hope

Marseille vs AC Milan, 1993

Olympiastadion
Munich, Germany
26 May 1993

Pre‑match odds

While exact market prices are hard to reconstruct, contemporary analysis and later retrospectives consistently describe AC Milan’s side – featuring the famed back line of Baresi, Costacurta, Maldini and Tassotti plus Van Basten and Papin – as strong favourites, with Marseille widely portrayed as underdogs.

Brief match summary

Milan, renowned for their high-intensity attacking transitions, created more and generally higher‑quality chances, but repeatedly failed to convert in a tight contest. Marseille, defending aggressively and relying on moments of chaos after turnovers, snatched the decisive goal just before half-time and then absorbed pressure to claim France’s first European Cup. The memorable game was easily one of the most dramatic football matches on German soil. Not to mention, this came during Italian football’s ‘golden generation’.

Key moments

  • Milan generated more shots and higher xG overall, including several early chances that should have put them ahead.​
  • On a corner in the 43rd minute, Abedi Pele’s in‑swinging delivery was glanced in by Basile Boli, giving Marseille the only goal of the game.
  • In the second half, Marseille’s back line mixed athletic duels with cynical fouls, including a notorious tackle on Marco van Basten, as they protected a narrow lead against one of the era’s most feared attacks.

Red Star Belgrade vs Marseille, 1991

Stadio San Nicol
Bari, Italy
29 May 1991

Pre‑match odds

Exact pre‑match lines are not readily available, but Red Star are universally described as “unfancied” outsiders against a Marseille side stacked with stars such as Jean‑Pierre Papin, Chris Waddle, Abedi Pele and Basile Boli, and which had eliminated defending champions AC Milan.​

Brief match summary

After a thrilling semi-final against Bayern, the final itself turned cagey, with both teams producing little in open play over 120 minutes. Red Star, set up conservatively despite their attacking talent, took the game to penalties, where their composure from the spot secured Yugoslavia’s only European Cup triumph.

Key moments

  • Marseille came into the final on the back of knocking out Milan and were widely expected to overpower Red Star’s young side.​
  • Over two hours, the match produced few notable chances, a stark contrast to Red Star’s dramatic semi-final that was settled by a late Klaus Augenthaler own goal.
  • In the shootout, Manuel Amoros missed Marseille’s first penalty, and Red Star converted all of theirs, with Darko Pančev scoring the clincher to complete the club’s long‑planned push to a European title.

Borussia Dortmund vs Juventus, 1997

Olympiastadion
Munich, Germany
28 May 1997

Pre‑match odds

Juventus, defending European champions and loaded with stars like Zinedine Zidane, Christian Vieri and Alen Bokšić, were broadly rated as clear favourites, with contemporary estimates putting the matchup around 60–40 in their favour.

Brief match summary

Juventus were expected to control the final and did create several dangerous moments, but Dortmund made better use of set pieces and transitions. Karl‑Heinz Riedle’s first‑half brace and Lars Ricken’s famous lob off the bench delivered a 3–1 win and the club’s first Champions League crown.

Key moments

  • Dortmund struck first from a corner when Riedle headed in, then he quickly added a second with a powerful finish to stun the favourites.
  • Juventus threatened a fightback as Zidane hit the post, Vieri had a goal disallowed, and Alessandro Del Piero’s clever back‑heel reduced the deficit.
  • Almost immediately after coming on, Ricken spotted Angelo Peruzzi off his line and scored with a long‑range lob, restoring Dortmund’s two‑goal cushion and killing Juventus’ momentum.

Embed from Getty Images

Underdog Champions League wins at a glance

These five finals combine context, market expectation and match narrative to represent the clearest cases of true underdogs lifting Europe’s biggest club prize.

Final Venue & date Underdog Favourite Indicative odds / status Final score / outcome
Liverpool vs AC Milan 2005 Atatürk Stadium, Istanbul – 25 May 2005  Liverpool AC Milan Milan ~6/5, Liverpool ~11/4 in 90 mins 3–3 AET, Liverpool win on pens
Chelsea vs Bayern 2012 Allianz Arena, Munich – 19 May 2012 Chelsea Bayern Munich Bayern ~1.80, Chelsea ~4.33, draw 3.75 1–1 AET, Chelsea win on pens
Marseille vs AC Milan 1993 Olympiastadion, Munich – 26 May 1993 Marseille AC Milan Milan widely regarded as strong favourites  Marseille 1–0 Milan
Red Star vs Marseille 1991 Stadio San Nicola, Bari – 29 May 1991  Red Star Belgrade Marseille Red Star portrayed as “unfancied” outsiders  0–0 AET, Red Star win on pens 
Dortmund vs Juventus 1997 Olympiastadion, Munich – 28 May 1997 Borussia Dortmund Juventus Approx. 60–40 in Juve’s favour by contemporary estimates  Dortmund 3–1 Juventus 

 

Main image credit: IMAGO / Allstar

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