Liverpool will contest the International Champions Cup final after Olympiacos defeated Manchester City 5-4 on penalties on Saturday.
City could have theoretically gone through from Group B with a shootout victory at the TCF Bank Stadium in Minnesota, while Olympiacos had to win in 90 minutes to keep their hopes of progression alive.
A 2-2 draw in regulation time meant the match headed for spot-kicks and Anastasios Papazoglou kept his cool from 12 yards after Micah Richards blazed over the crossbar.
Stevan Jovetic had earlier continued his purple patch with his fifth tournament goal, while Aleksandar Kolarov scored from the spot after half-time, only for Dimitrios Diamantakos to equalise on both occasions.
Olympiacos almost caught City out early on when Alejandro Dominguez collected the ball in the area and steered past Joe Hart, only for his celebrations to be cut short by the linesman's offside flag.
City responded well as Samir Nasir and Yaya Toure both curled efforts wide of the right-hand post, before Kolarov skipped effortlessly past Omar Elabdellaoui but saw his shot palmed away by Roberto.
The pressure finally told in the 35th minute with a fine solo goal from Jovetic, who beat one defender and showed neat trickery before beating Roberto at his near post.
However, the lead proved short-lived as Olympiacos equalised from the next attack. Pajtim Kasami dug out a cross from the right for Diamantakos to control and force home.
The half ended on a contentious note when Jovetic was bundled over by Avraam Papadopoulos, but the referee waved away the protests.
City piled on the pressure at the start of the second half and restored their lead when Kolarov blasted a 52nd-minute spot-kick high into the roof of the net after David Silva had been clumsily felled by Kostas Manolas.
But yet again Olympiacos came back, Diamantakos grabbing his second after beating the onrushing Hart to the ball and sliding into an empty net.
Roberto made a fine one-handed stop from Silva in the closing stages as the match headed to penalties.
Two misses each meant sudden death was required and, after John Guidetti and Andreas Bouchalakis both scored, Richards put his effort well over, allowing Papazoglou to score the winner and send Liverpool through to the final.
|AFC Champions League: Goalless draws leave quarter-finals on a knife edge|
|Klopp hopeful over Can injury|
|Champions League play-offs: Nine-man Roma crash out as Monaco edge Villarreal|
|Henderson hails ´outstanding´ Mane after Burton thrashing|
|Chelsea 3 Bristol Rovers 2: Conte´s side survive scare thanks to Batshuayi double|
|Hapoel Be´er Sheva 2 Celtic 0 (4-5 agg): Visitors survive Israeli scare|
|Burton Albion 0 Liverpool 5: Sturridge at the double in Reds rout|
|Leverkusen sign Austria star Dragovic|
|Sakho in the clear as WADA opt against appeal|
|Enyimba 3 Mamelodi Sundowns 1: Udoh brace secures CAF Champions League win|
|Pulisic and Ramos on target as Dortmund wrap up Bundesliga preparations|
|Calleri hoping for Tevez advice|
|Defour hoping for Belgium recall|
|Alaba warns against complacency as Bayern begin Bundesliga defence|
|Bravo arrives in Manchester ahead of City move|
|Dyche backs Gray after striker´s apology for homophobic tweets|
|Gray charged by FA over homophobic tweets|
|Pique: Olympic gold proves Neymar is one of world´s best|
|Marin makes Olympiacos move|
|Zidane arrival the catalyst for one of my best seasons - Ronaldo|
|Moyes ´worried´ about Mannone elbow injury|
|Sidibe rejected Arsenal over playing-time fears|
|Guardiola: Toure could feature against Steaua|
|Hernandez out for two weeks after falling down stairs|
|Bravo nearing City move, admits Guardiola|
|Ballack impressed by Dortmund signings but still backing Bayern|
|Lucescu questions De Boer tactics|
|Milan reject Chelsea bid for Romagnoli|
|Dortmund know how to treat Gotze - Ballack|
|Shevchenko: Bacca must improve consistency|
|´If you heed 100 idiots you will go crazy´ - Bauza on Messi return|
|Valdano relieved over Messi U-turn|
|Nordfeldt in line for loan move after signing fresh Swans deal|
|Dante joins Nice from Wolfsburg|
|De Boer expects fierce fight for Barca number-one spot|
|Newell´s confident over Messi return|
|Stoke confirm Jones interest|
|MLS ´attractive´ to Rooney - Timbers owner|
|Burke re-signs with West Ham|
|Sassuolo rejected Balotelli - CEO|
|Valencia coach Ayestaran rules out Mustafi sale|
|Allardyce plans Guardiola talks over Hart|
|Cahill warns rivals over City attack|
|Allardyce open to Terry England return|
|Drogba dismisses Villa rumours|
|Tuchel pleased despite Dortmund wastefulness|
|Stam´s Reading sign Manchester United youngster Blackett|
|Champions League place main objective for Rodgers|
|Eintracht Trier 0 Borussia Dortmund 3: Kagawa at the double as Tuchel´s men stroll|
|Escriba urges cool heads in Monaco|
|Cherchesov sets bar high for Russia|
|Tite defends Neymar´s captaincy credentials|
|Ancelotti wowed by fit-again Martinez|
|Spalletti: If Roma players are afraid, I don´t want them|
|Klopp laments Origi´s absent rhythm|
|Barcelona let Neymar stay in Brazil ahead of qualifiers|
|De Jong brothers joins forces at PSV|
|Rudiger returns to training|
|Liverpool transfer talk frustrates Klopp|
|Klopp demands final third improvements|
|Everton loan Galloway to West Brom|
|Manchester United loan Borthwick-Jackson to Wolves|
|Braithwaite to snub Premier League interest to stay at Toulouse|
|Strachan leaves out McCormack, Rhodes|
|Napoli plan to limit media commitments|
|Taarabt eager to make Marseille switch|
|Kruse suffers knee ligament injury|
|Rummenigge expects Ribery to be targeted|
|Delaney: Benteke is not Messi, he needs service|
|Ballack urges patience with Pep over City project|
|James happy at Real Madrid - Zidane|
|Harper backs Phelan for permanent Hull role|
|Flexibility the key for Allardyce|
|Allardyce concerned over Hart situation|
|De Bruyne praises Sterling reaction|
|Cavani vows to improve strike rate|
|Britton signs Swansea extension|
|Higuain motivated by ´fat´ comments|
|Conte perplexed by Costa criticism|
|Drinkwater poised to sign new Leicester contract|
|Bobo completes Sydney move|
|Bilic: You can´t count on Carroll|
|MLS Review: Dempsey´s Sounders sink rivals Timbers|
|Zidane: Important year for Bale|
|Galaxy star Rogers alleges homophobic abuse|
|Vieira: Pogba just needs to be himself|
|Bacca: I made a promise to Milan|
|Angry Handanovic critical of Inter|
|Gameiro: Atletico must win at home|
|Klopp: I´d be an idiot if I made a panic buy|
|Simeone: Draw leaves a bad taste in my mouth|
|Montella: Milan must win back fans|
|Asensio revels in goalscoring LaLiga debut for Madrid|
|Atletico Madrid 1 Alaves 1: Hosts denied in dramatic finale|