Liverpool have been beaten 5-4 on penalties by Atletico Madrid in the final of the Audi Cup in Munich.
The match ended 1-1 in normal time after Roberto Firmino's controversial late penalty cancelled out Keidi Bare's opener.
Atletico scored all five penalties in the shootout, with Reds skipper Jordan Henderson having his penalty saved by Miguel Angel Moya.
The first goal of the game came through Bare, who scored with a rebounded header past the helpless Danny Ward.
Liverpool were awarded the penalty late on after Divock Origi's fall was delayed following a challenge from Gabi, with Firmino making no mistake from the spot.
Jurgen Klopp's side now move to their final pre-season match, where they will take on Athletico Bilbao in Dublin on Saturday.
Atletico will now travel to England to face Brighton & Hove Albion at the AMEX on Sunday.
Source: tribalfootball.com