The Charity Shield's first visit to Wembley brought together the league champions and FA Cup holders on 10 August 1974. Liverpool and Leeds United drew 1–1, with Liverpool winning the shoot-out 6–5. Yet the match's most enduring images came before the penalties, when Kevin Keegan and Billy Bremner were sent off.
It was already an unusual occasion for Liverpool. Bill Shankly had announced his retirement, and Bob Paisley had been named as his successor, but Shankly led the players out at Wembley. The fixture fell in the handover between the two men, rather than offering a simple dividing line between their eras.
Phil Boersma, playing in place of the injured John Toshack, gave Liverpool the lead in the first half. David Harvey could not hold Keegan's attempt, and Boersma converted the loose ball. Liverpool reached the interval 1–0 ahead.
The lead was still intact when the confrontation between Keegan and Bremner brought both players' involvement to an end on the hour. Referee Bob Matthewson dismissed them, and both discarded their shirts as they left the field. The champions and cup holders were reduced to ten men each.
Leeds equalised through Trevor Cherry ten minutes later. His header from Peter Lorimer's delivery beat Ray Clemence and brought the match back to level terms. Neither side found another goal before the shoot-out.
Both teams converted their first five penalties. Alec Lindsay, Emlyn Hughes, Brian Hall, Tommy Smith and Peter Cormack all scored for Liverpool. In sudden death, Harvey missed for Leeds and Ian Callaghan converted Liverpool's sixth kick to settle the contest.
The Shield was therefore won outright, not shared. Boersma's goal, the equaliser and twelve penalties had supplied a footballing outcome to an afternoon dominated by the dismissals.
For Liverpool, it was silverware at the beginning of 1974–75, with Shankly still part of the Wembley occasion and Paisley's succession already announced. The next phase of the club's history was taking shape, but its opening ceremony had been anything but tranquil.