Jordan Henderson's missed penalty proved decisive as Atletico Madrid beat Liverpool in a shoot-out to win the Audi Cup.

Jurgen Klopp's side had impressed in beating Bayern Munich 3-0, while Atletico came from behind to see off Napoli 2-1 in the semi-finals.

Both teams rung the changes for the finale of the exhibition tournament, resulting in a predictably disjointed contest at the Allianz Arena.

Keidi Bare gave Atletico the lead with a first-half header, which had looked set to be enough prior to Roberto Firmino's 83rd-minute spot-kick.

But it was Atletico who edged the shoot-out following the end of normal time, with all of their players - including former Anfield favourite Fernando Torres - successful from 12 yards, while Henderson saw his effort crucially saved by Miguel Angel Moya.

Liverpool had the better of a low-key start to the contest and were the first to really threaten when Dominic Solanke glanced a header wide from an excellent Ben Woodburn cross.

But they fell behind in the 33rd minute when teenager Bare struck.

Sime Vrsaljko's volleyed cross from the right was met by Angel Correa and, though his effort was brilliantly turned onto the crossbar by Danny Ward, Bare was poised to nod in the rebound.

Liverpool made six substitutions ahead of the second half, with Firmino and Henderson among those thrown into the fray by Klopp.

Just two minutes after the restart Solanke spurned an opportunity to level matters by blazing over the crossbar.

Atletico soon shuffled their pack by bringing on Antoine Griezmann, Filipe Luis and Gabi, but Jose Gimenez almost surrendered their lead as his sliced clearance from Andrew Robertson's cross went just wide.

Torres was then brought on against his old club but the Reds levelled it up seven minutes from time thanks to Firmino's coolly taken penalty. Divock Origi was felled by Gabi and Firmino promptly stepped up and slotted into the bottom-right corner.

Atletico twice went close to restoring their advantage as Ward superbly tipped Lucas Hernandez's near-post header over, with Stefan Savic hooking narrowly off target from the resulting corner.

Robertson flashed a drive across the face of goal for Liverpool, but it was Filipe Luis who had the final say from the spot to seal victory for Atletico.