Manchester United won the Champions League by beating Chelsea 6-5 on penalties after a tight 1-1 draw. Cristiano Ronaldo headed United in front after 26 minutes but Frank Lampard evened out before the interval. Ronaldo missed his penalty, but John Terry hit the post with a kick that would have won it for Chelsea and Edwin van der Sar saved from Nicolas Anelka. Terry had to be consoled by boss Avram Grant as he broke down in tears after missing the shot that would have given his side the win.

It sparked crazy celebrations for Alex Ferguson and his players in the Moscow rain as Man U won Europe’s trophy for the third time, a triumph made more emotional as it came 50 years on from the Munich air crash. Ferguson had made it his mission to take the trophy back to Manchester this year in memory of those who died in the tragedy of February 1958. And it gave the 66-year-old Scot his second Champions League triumph, repeating the success against Bayern Munich in Barcelona in 1999.

The penalty shoot-out topped off an exciting game with passages of play of the highest degree, with United dominating the first half but Chelsea showing huge reserves after the break.

According to Forbes magazine, Manchester United is the most valuable team in world soccer for a second straight season and will most likely hold that position next year as well. The Premier League club is worth $1.8 billion, a $347 million increase from last year’s valuation. Taking into account revenue growth, profitability and debt levels, Real Madrid remained second at $1.285 billion and Arsenal third at $1.2 billion. United was among four English clubs in the top 10, with Liverpool the big mover on the list, going up from 11th last year to fourth. Bayern Munich was fifth, followed by AC Milan, Barcelona, Chelsea, Juventus and Schalke.

David Beckham returned to the top of the richest soccer players list after his well publisized move to the Los Angeles Galaxy pushed Ronaldinho down to second place. Beckham is worth $49 million, followed by Ronaldinho at $33 million.