This was Liverpool's second appearance in the European Cup: they had reached the semi-finals during the 1964–65 season, losing to eventual winners Internazionale.

Their opponents in the first round were Petrolul Ploiești of Romania, whom they beat 2–0 in a play-off match after the two-leg tie resulted in a 3–3 scoreline.

Liverpool only managed a late consolation goal when defender Chris Lawler scored in the 89th minute, and the game ended 5–1 to Ajax.

The spectators could not really see much of the match due to the fog's density and at times could only tell by the celebration of the team when a goal was scored.

The match marked the emergence of Ajax in European football, two seasons later they reached the final, but lost 4–1 to Milan.

[1] Liverpool qualified by winning the 1965–66 Football League First Division, six points ahead of second-placed Leeds United.

They won the first leg 2–0 at the Olympic Stadium, courtesy of goals from Piet Keizer and Bennie Muller.

Their first season of competition in 1964–65 they reached the semi-finals of the European Cup, losing to eventual winners Internazionale.

[6] A few of Liverpool's players, including striker Roger Hunt, were part of England's victorious World Cup campaign in 1966.

Ajax were coming out of a poor period, after they had finished in 13th place in the 1964–65 Eredivisie, while the Netherlands national team had yet to make an impression on the international stage.

A throw-in by Cruyff was headed into the air, Liverpool goalkeeper Tommy Lawrence came to collect the ball.

[8] Liverpool striker Hunt had a chance to score in the 12th minute, but his shot was saved by Ajax goalkeeper Gert Bals.

[12] The conditions were so bad that when Liverpool coach Bob Paisley came onto the pitch to attend to an injured player, Shankly entered as well.

The subsequent free-kick taken by Frits Soetekouw was not cleared by the Liverpool defence and the ball rebounded to Nuninga, who scored to give Ajax a 3–0 lead.

Swart, assuming that he had signalled half-time began to walk off the pitch, was stopped by a steward who pointed out that the match was still ongoing.

[14] The defeat convinced Shankly that adopting Ajax's patient, passing style was the key to success in Europe.

"[17] Liverpool had early chances in the second leg with midfielder Peter Thompson and defender Geoff Strong hitting the frame of the goal.

As fans struggled to see the match due to a low-hanging haze, people at the back pressed forward for a better view.

[19] Michels stated that the victory was proof that Ajax could match teams in Europe: "The Liverpool game was for me an important moment to be acknowledged and recognised internationally.

He moved defender Ton Pronk into midfield and sold his captain Frits Soetekouw, who had scored an own goal in the second leg, to rivals PSV Eindhoven, signing Velibor Vasović from Partizan as his replacement.

[21] The team's style, known as Total Football, would come to fruition in the 1970s as Ajax won three consecutive European Cups from 1971 to 1973.

[22][23] The teams were drawn together again in the 2022-23 UEFA Champions League group stage, with Liverpool winning both matches again, 2–1 at Anfield and 3–0 at the Johan Cruyff Arena.