AS Monaco 2004

Coach: Didier Deschamps

Didier Deschamps' young Monaco side produced one of the great underdog runs in Champions League history in 2003-04, eliminating both Real Madrid and Chelsea in the knockout stages before losing the final 3-0 to José Mourinho's Porto in Gelsenkirchen. Fernando Morientes, on loan from Real Madrid, scored crucially against his parent club in the quarter-final, while a teenage Emmanuel Adebayor was emerging as a genuine goalscoring threat and Ludovic Giuly provided creative spark from a wide forward role. The semi-final victory over Chelsea, won on away goals after a dramatic tie, remains one of the most celebrated results in the club's history, given the financial gap that had already begun opening up between Monaco and the Premier League's wealthiest sides even at that point in the early 2000s. Deschamps, in only his second full season as a manager after retiring from a decorated playing career that included winning the World Cup as France's captain, guided this relatively low-budget squad further than almost anyone expected, and the run remains a frequently cited example of shrewd coaching outperforming financial muscle.