A goal by Koke -- who has been with the club since he was eight years old -- saw them deservedly beat Barcelona 1-0 last night and progress 2-1 on aggregate and perhaps also register a changing of the guard at the top of Spanish and European football.
Bayern Munich -- bidding to become the first team to successfully defend their title -- also reached the last four beating Manchester United 3-1, to go through 4-2 on aggregate.
Atletico -- who last beat Barcelona four years ago -- came roaring out of the blocks and got the only goal of the game through Koke, his first in this season's tournament, in the fifth minute.
Atletico, who are also top of La Liga in a three way battle with Barca and Real, could have been 3-0 up after fifteen minutes as former Barcelona striker David Villa hit the woodwork on two occasions.
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For Atletico coach Diego Simeone -- who last year was forced to sell Falcao for 60 million euros ($83 million) when their debt was officially estimated at 170 million euros but some experts said it was up to 300 million euros -- it was another significant victory.
"We maintain the same humility. We understand that the other teams (in the semi-finals) have been there far more than Atletico Madrid," said the 43-year-old, who was a bundle of energy on the touchline urging the crowd to raise the noise level and continually making the sign of the cross.