Full-time score: Liverpool 1 Atletico Madrid 1 (4-5 on pens)
Liverpool captain, Jordan Henderson's missed his penalty kick which gave Atletico Madrid the win over the Reds to win the Audi Cup.
Liverpool had taken everyone by surprise in the competition after beating Bayern Munich 3-0, while Atletico Madrid defeated Napoli 2-1 to set up this final clash.
Playing two games in 24hours made both teams do a lot of changes in the team for the final maych, which resulted in a relatively boring atmosphere.
Athletico got the lead through Keidi Bare first-half header just pass the half hour mark, but Roberto Firmino's 83rd-minute spot-kick made it 1-1 and dragged the game to penalties.
In the penalty shootouts Atletico edged out Liverpool with all of their 5 players (Fernando Torres, Griezman, Gabi, Filipe Liuz and Gaitan all scoring from 12 yards), while Henderson of Liverpool saw his kick saved by Miguel Angel Moya.
The contest started slowly with Liverpool having the better threat when Dominic Solanke glanced a header wide from an excellent Ben Woodburn cross.
But Athletico Madrid got the goal in the 33rd minute when youngster Bare headed home after Angel Correa effort was brilliantly saved but onto the crossbar by Danny Ward, Bare was in position to head in the rebound, but the Reds levelled it up in the 83rd minute when Firmino's scored a fine taken penalty after Divock Origi was felled by Gabi in the box.
In the shootout after Henderson missed his kick, all others converted but the decisive one was Filipe Luis who converted to grant Atletico victory.
By Emmanuel Ndibe