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WATCH: All nine penalties as Real Madrid beat Atletico Madrid to secure the Champions League

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For the second time in three years, Real have beaten Atletico in the Champions League final

Clive Mason/Getty Images

Atletico Madrid have lost their second Champions League final in three years at the hands of their bitter rivals Real Madrid. Yannick Ferreira Carrasco cancelled out an early Sergio Ramos goal and the sides could not be separated after 30 minutes of extra-time.

Atletico, having beaten PSV Eindhoven in the round of 16 game on penalties, might have felt comfortable going into the penalty shoot-out but Real were more clinical when it mattered the most. The ironic thing about the whole situation was that Juanfran, one of Diego Simeone's most loyal and excellent disciples, missed the crucial spot-kick and Cristiano Ronaldo buried his as Jan Oblak was left stranded.

It's back to the drawing board for Atletico and Diego Simeone as they must regroup and figure out how to pick themselves up after having their hearts broken yet again on the biggest night in European football. Can Atletico make it three Champions League finals in four years? That remains to be seen but to overcome this heartbreak will take real character.