Alan Kennedy scored the only goal as Liverpool beat Real Madrid at the Parc des Princes on 27 May 1981. Their third European Cup followed the victories of 1977 and 1978, all under Bob Paisley.
Kennedy had faced a struggle to play. A wrist injury against Bayern Munich in the first leg of the semi-final had kept him out of the return. He recovered in time for Paris, later recalling that the initial medical assessment had put his place in the final in doubt.
Liverpool created the better early openings. Kennedy forced Agustín into a low save, Terry McDermott shot over and Kenny Dalglish turned in the penalty area but could not beat the goalkeeper. Madrid's close marking restricted the forwards, while Graeme Souness offered a threat from deeper positions, testing Agustín before the interval.
The clearest warning came in the second half. José Antonio Camacho broke through Liverpool's defence with Ray Clemence advancing, but lifted his shot over the goalkeeper and the bar. The final remained goalless.
Kennedy decided it inside the last ten minutes. Ray Kennedy took a throw-in on the left and found the full-back, who went past García Cortés into the penalty area. From a narrow angle, Alan Kennedy drove a left-footed shot past Agustín.
Liverpool continued to threaten after taking the lead, with Souness bringing another save from Madrid's goalkeeper. They held the advantage to the final whistle, and Phil Thompson lifted the trophy. Paisley had won the European Cup for the third time in five seasons.