This year's competition, also known as Toyota Cup, was played on 28 November in Tokyo. Boca Juniors were proclaimed champions after defeating Real Madrid by the odd goal.

Real Madrid 1 - Boca Juniors 2

Real Madrid: Casillas; Geremi, Hierro, Karanka, Roberto Carlos; Makelele, Iván Helguera; Figo, Guti, McManaman; Raúl. 4-2-3-1.

Goals:
0-1. 02. Palermo. From close range after cross from left by Delgado.
0-2. 06. Palermo. Ran on to long pass from Riquelme and shot under Casillas.
1-2. 11. Roberto Carlos. Controlled ball on chest and flicked into top corner.

Real Madrid were unable to follow up their success of two years ago in this competition, falling to two early goals by Boca Juniors Martín Palermo. By rights Palermo should have been playing his football in Spain with Atlético Madrid, the controversial striker virtually signing in the middle of last season before president Jesús Gil cancelled the deal after reports that the player was too controversial a figure even for his team. The man known as "El Loco" (the madman) struck in the second minute before Madrid had had time to settle, Delgado picking up a long ball from Matellán, getting away from Geremi on the left wing and crossing for the big man to tuck the ball past Casillas. Then four minutes later Riquelme put through a glorious long pass from his own half, Palermo holding off his marker Geremi before volleying the ball down wide of the Madrid keeper, who appeared to misjudge his shot.

The game appeared to be over already, but Madrid came back and Roberto Carlos fired a shot against the crossbar almost immediately. Then a few minutes later he went one better after Figo's cross was headed up by Ibarra, the powerful little Brazilian catching the ball on his chest, taking a step forward and flicking the ball up nonchalantly into the top corner of Córdoba's goal. The game was flowing, and both sides showed touches of class, with Raúl chipping a house-special just over the bar and Delgado dribbling through the entire defence before Casillas threw himself forward to block his shot. Riquelme demonstrated why, at only 22 years of age, half the clubs of Europe are after him, with two or three free kicks that kept Casillas on his toes. In the second half, Madrid got the ball in the net twice, through Geremi and Raúl, but both were ruled out correctly by Colombian referee Ruiz Acosta for offside. Raúl put a header wide from close range, and the young forward was not on his usual form, with Bermúdez getting the better of him on more than one occasion.

Figo too could do little, with Serna his constant shadow, and the Portuguese disappointed on a night where he had the chance to display his wares in front of a world audience. One of three pre-candidates together with Rivaldo and Zidane for this year's footballer of the year award, a good performance could have swung the vote in his favour, and his frustrations were evident as he confronted the referee at the end to complain about Boca's time wasting which was not allowed for in the minutes added on at the end. But it was to little avail, as Madrid lost their second super-cup final this season after being beaten by Galatasaray in the European version. Boca's victory was the first by a South American team since Vélez Sarsfield last won on 1994, and was the second time that they have won the trophy. Their fans in Tokyo and Argentina danced on into the night....