Triumph in the Supercoppa Italiana (3-0) against Lazio got the Rossoneri off to a good start in the new season, the team now enhanced with the arrivals of Stam, Crespo and Dhorasoo. The Italian league increased from 18 to 20 teams but AC Milan, the reigning champions, remained at the top. In Serie A, a strong rivalry formed between the Rossoneri and Fabio Capello's Juventus. Their first meeting, on 18 December at the Stadio Delle Alpi confirmed the parity between the two teams, with a 0-0 final score. Shevchenko was also awarded his Ballon d'Or in December, the fifth in Rossonero history. The return match between the Rossoneri and the Bianconeri was the league decider on 8 May at San Siro. Trezeguet's header took the Scudetto to Turin.
After topping a group against Barcelona, Shakhtar and Celtic, AC Milan reached the Champions League final, overcoming Manchester United in the round of 16, Inter in the quarters and PSV Eindhoven in the semi-final. The final went Liverpool's way, mounting a famous comeback and winning on penalties.