Postpublished at 14:45 British Summer Time 26 July 2018
That's it - it's a wrap. Arsenal don't get the victory but there were some very promising performances from the youngsters.
Catch you next time!
Match played in Singapore
Vietto heads Atleti ahead against run of play; Smith-Rowe scores stunner
No Godin, Costa, Griezmann or Saul for Atleti
Lacazette, Aubameyang and Ramsey start in strong Arsenal team
Emma Sanders
That's it - it's a wrap. Arsenal don't get the victory but there were some very promising performances from the youngsters.
Catch you next time!
Atletico Madrid took the lead in normal time and again in the shootout and eventually come away with a win.
Thoughts Arsenal fans?
Antonio Adan
The goalkeeper is a jack of all trades! Antonio Adan scores the best penalty of the lot - smashing it against the post and the underside of the crossbar.
Atletico win the penalty shootout.
Edward Nketiah
Terrific save from Antonio Adan to deny Edward Nketiah's low strike.
Victor Mollejo
Another lovely chip to the right. That gives Atletico a crucial lead.
Ainsley Maitland-Niles
Lovely penalty! The youngster chips it down the middle.
Borja Garces
Great save from Petr Cech low to his right.
Joe Willock
He never looked comfortable and Joe Willock's effort is saved low to the left.
Rodrigo Hernandez
He shoots into the top of the net and finally gets the shootout off with a goal. Easy as you like.
Henrikh Mkhitaryan
His shot is saved low in the right corner. He hit that with some pace too!
Angel Correa
Hits the post!
Here we go...
Flashbacks of England's World Cup penalty shootout against Colombia incoming...
Well, it's not quite on the same level.
But has anyone actually enjoyed watching a shootout when their team is involved? Do the players even like it? I'd guess not.
#bbcfootball
So good performance from Arsenal? Or still lots of work to do? Did you expect more from that starting XI?
I want to know what you're thinking before the shootout starts.
Atletico Madrid 1-1 Arsenal
That's it. No winner. 1-1. Penalty shootout timeeeeeeeeeee.
Atletico Madrid 1-1 Arsenal
Arsenal are giving it one last push. They have increased the intensity and are piling players forward. Still no opportunity created yet though.
Atletico Madrid 1-1 Arsenal
Four minutes to go.
Atletico Madrid 1-1 Arsenal
Henrikh Mkhitaryan is on the pitch by the way. But he's barely been involved since coming on. He'll take a penalty though won't he?
Or will he score before it gets to that?
Atletico Madrid 1-1 Arsenal
Diego Simeone is pretty active on the Atletico Madrid bench. He wants this game wrapped up within 90 minutes.
Atletico Madrid 1-1 Arsenal
Lucas Perez tries to make something happen down the left. His cross hits a defender and flies out for a corner.
That's Arsenal's eighth of the match so far.