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The European giants played out a gruelling 1-1 draw after extra time in a match lasting 120 minutes that had it all.
Truth be told, the match didn't deserve to be settled by the unpredictability of a penalty shootout.
Spain may have fancied their chances, having beat Switzerland in a penalty shootout, although their attempt to throw caution to the wind and try to win the game in extra time may have been evidence that they wanted to win the game within 120 minutes.
As Italy and Spain fans chewed the remainder of their nails off, the respective captains met for the coin toss. Both Giorgio Chiellini and Jordi Alba shared a light-hearted joke and a warm embrace as referee Felix Brych went through the formalities.
Chiellini won the toss and chose for Italy to take the first penalty.
Commentators stressed that whoever took the first penalty in a shootout would have an advantage.
Following Manchester United's Bruno Fernandes allowing Villarreal to go first in the Europa League final penalty shootout, research emerged that indicated "the team that goes first in a penalty shootout wins 60.5% of the time."
Subsequently, Chiellini knew exactly what he was doing when choosing to take the first penalty.
Despite Manuel Locatelli stepping up and missing the first penalty, misses from Spain's Dani Olmo and Alvaro Morata allowed Jorginho the chance to cement Italy's place in the final -- an opportunity that required no second invitation.
It was another penalty shootout that would support the research that whoever goes first has the advantage.
And Spain's former veteran defender Gerard Pique believes it's unfair.
After watching his side suffer defeat to Italy from the spot-kick, he tweeted: "It is no coincidence that the four rounds that have been so much in the @EURO2020 like in the @CopaAmerica the team that shoots first has won.
"Statistics say that the former has more options and in a tournament like this it does not seem fair to me that a draw should make you start at a disadvantage."
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