Liverpool won the European Cup for the first time on 25 May 1977, beating Borussia Mönchengladbach 3–1 at Rome's Stadio Olimpico. Terry McDermott, Tommy Smith and Phil Neal scored the goals; Kevin Keegan's last appearance for the club ended with the trophy that had eluded Liverpool throughout his time at Anfield.
Four days earlier, Manchester United had beaten Liverpool in the FA Cup final. The league championship was already secured, but the defeat at Wembley had ended the possibility of a treble. Bob Paisley's players now faced the German champions in their first European Cup final, against opponents Liverpool had beaten in the 1973 UEFA Cup final.
Gladbach gave an early warning when Rainer Bonhof struck the post. Liverpool answered with a goal built on movement and a precise pass: Steve Heighway found McDermott running into space, and the midfielder finished to establish a half-time lead.
The match changed after the interval. Allan Simonsen's fierce shot brought Gladbach level, and the German side threatened to take control. Ray Clemence's saves mattered as much as Liverpool's work at the other end. The contemporary Guardian report identified this as the period when the final might have gone away from Paisley's side.
Smith restored the lead with a header from Heighway's corner. It was his first goal of the season. A defender whose contribution had so often been to prevent goals had supplied the one that put Liverpool ahead for good in their most important European match.
Keegan then helped settle it. His running had repeatedly tested Berti Vogts, and the German defender brought him down in the penalty area. Neal converted the spot-kick to make it 3–1.
Liverpool had responded to Simonsen's equaliser with two goals of their own. The disappointment at Wembley remained part of the season, but Rome gave it a different ending: Paisley's team were champions of England and Europe, and Keegan departed having helped deliver the club's first European Cup.