Real Madrid beat holders Manchester City on penalties to reach the Champions League semi-finals and end Pep Guardiola’s quest for back-to-back trebles.

A penalty shootout was required after the quarter-final tie finished 4-4 on aggregate, and it was Real who held their nerve to advance to the semis.

The Premier League and La Liga giants played out an entertaining 3-3 draw at the Bernabeu last week and continued to deliver blows to each other at the Etihad.

Rodrygo put Real Madrid ahead on 12 minutes and for a long period it appeared as though his goal would be enough, but Kevin de Bruyne scored with 15 minutes remaining to send the tie to extra-time.

Neither side found a winner in the extra 30 minutes and Carlo Ancelotti’s side won a tense and dramatic penalty shootout 4-3 to end Man City’s European campaign.

It was advantage City in the shootout after Luka Modric saw his penalty saved with Real Madrid’s first effort, but Bernardo Silva and Mateo Kovacic then missed to give the visitors hope.

City goalkeeper Ederson took and scored his side’s fifth penalty but was unable to keep out the decisive spot-kick from Antonio Rudiger as Real advanced in a competition they have won a record 14 times.

Real Madrid will face Bayern Munich in the Champions League semi-finals after the German giants knocked out Man City’s Premier League title rivals Arsenal.

Manchester City and Real Madrid shared a six-goal draw in the first leg and it did not take long for the Etihad clash to produce sparks. 

As ever, the hosts dominated possession in the early stages but it was Madrid who had the first chance of note, Eduardo Camavinga forcing a save out of Ederson. 

On 12 minutes the 14-time winners took a surprise lead through Rodrygo, who shot straight at Ederson with his first effort but was able to follow up and poke home the rebound. 

Madrid’s opener sparked a period of Man City dominance, with Erling Haaland heading over from Silva’s cross before the Norway striker hit the bar with another header. 

De Bruyne forced a save from Real Madrid No. 2 Andriy Lunin before Jack Grealish twice came close with deflected shots. 

Real, who last won this competition in 2022, kept Man City at bay until half-time but the defending champions continued to press after the break, Grealish seeing a volley parried by Lunin. 

Guardiola’s side then almost equalised in comical fashion as Nacho inadvertently passed the ball past his on-rushing goalkeeper, but the Spanish defender sprinted back to clear the ball off the line. 

With half an hour remaining, Man City began to look a little rattled and frustrated by Real Madrid’s resolute defensive display, Grealish and Josko Gvardiol both going into the book for late fouls. 

But as has often been the case, De Bruyne produced a decisive moment for Manchester City, drilling a close-range finish into the roof of the net after Rudiger failed to clear Jeremy Doku’s cross. 

A purring De Bruyne tested Lunin from distance shortly after and should have put Man City ahead when he fired over from an inviting cutback. 

Despite pushing for a winner, Manchester City had to settle for extra-time and it was Real Madrid who then had a glorious chance to take the lead when Rudiger smashed over from close-range. 

By this point Haaland was watching on from the sidelines – Guardiola opted to bring his prolific striker off before extra-time – and more changes were needed as both sides tired and the pace slowed drastically. 

Penalties were needed after 120 minutes of action and City had their noses in front when Ederson got down well to save Real Madrid’s first penalty from Modric. 

But Silva then placed a staggeringly tame effort straight at Lunin before the Madrid goalkeeper also kept out Kovacic. 

Lucas Vazquez, Phil Foden, Nacho and goalkeeper Ederson then scored from the spot before Rudiger fired home the decisive penalty to send Real Madrid through and end Manchester City’s Champions League defence.

Carlo Ancelotti’s side, eight points clear at the top of La Liga, could be on the verge of a special season and face Bayern Munich for a place in the Champions League final. 

Manchester City’s treble dream is over but they could yet win a Premier League and FA Cup double. Guardiola’s side are two points clear at the top of the league and face Chelsea in the FA Cup semi-finals this weekend.