Things looked bleak for Liverpool midway through the first half when Setubal took the lead from a penalty after Tommy Lawrence had felled Guerreiro. After 11 minutes of the second, the Reds fell further behind when Tome's shot took a deflection off Geoff Strong to wrong foot the Reds keeper.
Liverpool now needed four goals in little over half an hour to go through and Shankly sent on Hunt and Evans as a last throw of the dice. Just four minutes later the Reds were given a lifeline. Hunt's shot was handled on the line and Tommy Smith netted the resultant penalty. But for all Liverpool's pressure they couldn't find a breakthrough with keeper Vital being in fine form.
Then in the final minutes the Reds finally found the net, not once, but twice. First Evans scored from close range then Hunt hit a screamer from 20 yards, which put Liverpool ahead on the night and turned out to be the last kick of the game. With nobody being exactly sure how the away goals worked, the players waited around for extra time. However, they were then taken off the field by the referee, who informed them that the away goals rule came into effect after 90 minutes.
The crowd refused to admit defeat however and stayed behind, before an announcement was made that the Reds had lost. It was a cruel blow, as the previous season Liverpool had staged a late come back and then gone out on the toss of a coin to Athletic Bilbao. In typical upbeat mood Bill Shankly refused to acknowledge that the Reds were beaten, saying: 'We were beaten by a penalty, an own goal and the rules of the competition.'