The 2003–04 UEFA Champions League was the 12th season of UEFA’s premier European club football tournament, the UEFA Champions League, since its rebranding from the European Cup in 1992, and the 49th tournament overall. The competition was won by Portugal’s Porto, who defeated AS Monaco of the French Ligue 1 3–0 at the Arena AufSchalke in Gelsenkirchen, Germany for Portugal’s first win since 1987. This was Porto’s second European trophy in two years, following their UEFA Cup success from the previous season. This was the first UEFA Champions League competition to feature a 16-team knockout round instead of a second group stage. After eliminating (in order) Manchester United, Olympique Lyonnais and Deportivo La Coruña, Porto met AS Monaco in the final. Monaco had previously knocked out Lokomotiv Moscow, Real Madrid and Chelsea. Milan were the defending champions, but were eliminated by Deportivo La Coruña in the quarter-finals.