The match, attended by 91,817 spectators, was won by the Brisbane Lions by a margin of 9 points, marking the club's second consecutive premiership victory, as well as its second overall since being established in 1997.

Jason Cloke from Collingwood was suspended during the week after being charged for striking Tyson Edwards in the nose during their preliminary final victory against Adelaide.

Also in the week leading up to the grand final, Brisbane's Simon Black was awarded the Brownlow Medal.

In a tight and overall enthralling exhibition of Australian rules football, Brisbane withstood a brave challenge from Collingwood to win the 2002 AFL Grand Final by nine points, taking out their second successive flag.

Brisbane finally kicked its first goal in the 5th minute of the second quarter, Shaun Hart converting from general play in the forward pocket.

Throughout the second quarter, Brisbane gained control of general play, but repeatedly failed to convert this advantage on the scoreboard.

By the 28th minute of the quarter, the score was Collingwood 4.4 (28) leading Brisbane 2.12 (24), the Lions having kicked 2.8 for the quarter from its repeated forward entries, although had not missed many easy shots, with Collingwood's defenders keeping the Lions to hurried or wide-angle shots.

But, two late goals – to Craig McRae in the 29th minute from a free kick with advantage at full forward, then Alastair Lynch from a 20m set shot – Brisbane took an eight point lead into half time.

[3] Nathan Buckley of the Magpies was awarded the Norm Smith Medal as the best player afield, despite the fact that he finished on the losing side.