In a game that will surely go down as a European classic, it was a dream start for City when Bernardo Silva snuck a clever free-kick in at Andriy Lunin’s front post inside two minutes.
But Real Madrid turned the game on its head in a bizarre two-minute spell at the Santiago Bernabeu.
First, the hosts drew level when Eduardo Camavinga’s heavily deflected effort off Ruben Dias wrong footed Stefan Ortega Moreno from distance.
And Madrid took the lead just one minute and 54 seconds later when another ricochet, this time from Manuel Akanji, saw Rodrygo finish off a swift counter attack.
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City were in need of a moment of quality, and it came from Foden just after the hour.
The visitors had been the dominant force in the second half, and an exquisite curling drive from the midfielder on the edge of the Madrid box grabbed the deserved equaliser.
But just as the hosts had turned the game on its head in the first 45, City repeated the trick in the second, with Josko Gvardiol rifling in a stunning first goal in sky blue from distance to hand Pep Guardiola’s men the advantage.
A pulsating encounter took another turn though with 12 to play when Federico Valverde fired an unstoppable volley back across goal from Vinicius’ cross to draw Real Madrid level.
It means it’s all to play for back at the Etihad next week, as City preserve our 22-match unbeaten run in the Champions League.
Check out the best images from the Bernabeu via the gallery below…