Portugal triumphed in the UEFA Nations League, defeating defending champions Spain 5-3 on penalties after a dramatic 2-2 draw in Munich's Allianz Arena. Goalkeeper Diogo Costa emerged as the shootout hero for Portugal, denying Alvaro Morata from the spot, before Ruben Neves decisively converted the winning penalty to secure the trophy for Roberto Martinez’s side.

Much of the pre-match anticipation centered on the encounter between veteran Portugal captain Cristiano Ronaldo, aged 40, and the prodigious 17-year-old Spain winger Lamine Yamal. While Ronaldo played a crucial role by scoring the equalizer that forced extra time, both he and Yamal had been substituted before the tense penalty shootout resolved the captivating contest.

During the regulation 90 minutes, Spain took the lead twice. Mikel Oyarzabal scored for Spain after Martin Zubimendi's opener, but Nuno Mendes, Portugal's impressive full-back, equalized for the first time. Ronaldo later scored Portugal's second equalizer in the 61st minute, his 138th goal for his country.

This victory marked Portugal's second Nations League title, having also won the inaugural tournament in 2019, making them the first nation to achieve this feat. Cristiano Ronaldo, securing his third international trophy, was visibly emotional, breaking down in tears after Ruben Neves' decisive penalty, reminiscent of his reaction during the Euro 2016 final.

The final in Bavaria was expected to be a high-scoring affair, with Euro 2024 champions Spain having advanced after a thrilling 5-4 victory over France, while Portugal had overcome Germany 2-1 in their semi-final. Early in the match, Spain's Pedri and Nico Williams created threatening opportunities before Luis de la Fuente’s side took the lead.

Spain opened the scoring in the 21st minute through Martin Zubimendi, who capitalized on a defensive mix-up by Portugal following a delivery from Yamal, initiated by a clever flick from Oyarzabal. However, Portugal's response was swift. Just four minutes later, left-back Nuno Mendes – fresh from his Champions League success with Paris St Germain – scored his first international goal with a powerful angled drive after bursting into the box, put through by Pedro Neto. Spain regained the lead just before half-time when Pedri drove forward and poked the ball through for Oyarzabal to divert an instinctive, first-time finish past Costa, amidst Portuguese appeals for a foul on Bernardo Silva.

Portugal started the second half strongly, with Bruno Fernandes briefly thinking he had levelled, but Pedro Neto was ruled offside before providing the assist. The crucial second equalizer eventually arrived with 29 minutes to go (61st minute). Nuno Mendes again played a key role; his cross from Portugal’s left looped up off Robin Le Normand, and Ronaldo held off Marc Cucurella to volley home. This was Ronaldo's fourth goal in ten appearances against Spain, the previous three coming in a 3-3 draw at the 2018 World Cup.

Ronaldo, showing signs of cramp, limped off and was substituted two minutes from the end of regulation time (88th minute), replaced by Goncalo Ramos. The match proceeded to extra time, where Portugal substitute Nelson Semedo had a chance but scuffed his shot wide. Tempers briefly flared when Mendes went down in the Spanish penalty area under a challenge from Alex Baena. Lamine Yamal was also withdrawn ahead of a cagey second period of extra time.

In the penalty shootout, both teams successfully converted their first three kicks. Mendes buried Portugal's fourth. Alvaro Morata then stepped up for Spain but saw his effort saved by Diogo Costa. Ruben Neves then coolly converted his penalty in front of the Portuguese fans to seal the 5-3 shootout victory. Ronaldo, unable to watch the final kick from the sidelines, was overcome with emotion upon Neves' success, falling to his knees.

Post-match, Bruno Fernandes told RTL, "Our fighting spirit and togetherness were decisive today. When we stay together like this, we're very difficult to beat." This victory was only Portugal's second competitive win against their Iberian rivals Spain in their long history, the first being a 1-0 victory at Euro 2004 when a 19-year-old Ronaldo featured. For Spain's Mikel Oyarzabal, it marked his third international final goal, having scored in the Euro 2024 final (win) and the 2023 Nations League final (loss). Spain's coach, Luis de la Fuente, described the match as "equal," stating, "We did a lot well, but in football sometimes things happen and the opponent is able to beat you."