Alan Kennedy converted the decisive penalty as Liverpool won their fourth European Cup at the Stadio Olimpico on 30 May 1984. After a 1–1 draw with Roma over two hours, Liverpool won the shootout 4–2 to complete a treble of league championship, League Cup and European Cup in Joe Fagan's first season as manager.
Roma were playing the final on their own ground. Liverpool's response was to retain possession and control the pace, with Graeme Souness central to their passing. In contemporary interviews, both Roma captain Agostino Di Bartolomei and manager Nils Liedholm acknowledged how effectively Liverpool had kept the ball.
Phil Neal put Liverpool ahead around the quarter-hour. Craig Johnston crossed from the right, Franco Tancredi failed to hold the ball under pressure from Ronnie Whelan, and Roma's attempts to clear ended with the ball falling to Neal, who scored from close range.
Roma recovered before half-time. Bruno Conti, attacking on the left, regained the ball after his first cross was blocked and delivered again. Roberto Pruzzo met it with a glancing header beyond Bruce Grobbelaar.
There was no further goal, although substitute Steve Nicol had a late chance blocked by Tancredi after Kenny Dalglish's pass. Dalglish was replaced by Michael Robinson in extra time, and the final became the first in the competition to require a penalty shootout.
Nicol sent Liverpool's opening kick over the bar. Di Bartolomei scored, Neal replied and Conti missed. Souness then put Liverpool ahead; Ubaldo Righetti levelled before Ian Rush made it 3–2.
As Francesco Graziani prepared to take Roma's fourth penalty, Grobbelaar wobbled his legs on the line. The goalkeeper later described the routine as an attempt to distract the taker. Graziani's shot clipped the bar and went over, leaving Kennedy with the chance to finish the contest.
Kennedy sent Tancredi the wrong way. Three years after scoring the winner against Real Madrid in Paris, the left-back had again supplied the final touch to a European Cup victory. Souness lifted the trophy in what proved to be his last competitive appearance for Liverpool.