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Stefan Kiessling sends a third woeful penalty over the bar for his side and Bayer Leverkusen are out of the Champions League. Atletico progress, joining Real Madrid, Porto, Paris Saint-Germain, Bayern Munich and Monaco in the draw for the quarter-finals.

Missed! Atletico 3-2 Bayer (Stefan Kießling)

ATLETICO MADRID PROGRESS AFTER WINNING 3-2 ON PENALTIES

Goal! Atletico 3-2 Bayer (Fernando Torres)

Goal! Atletico 2-2 Bayer (Gonzalo Castro)

Saved! Atletico 2-1 Bayer (Koke)

Missed! Atletico 2-1 Bayer (Ömer Toprak)

Goal! Atletico 2-1 Bayer (Mario Suarez)

Goal! Atletico 1-1 Bayer (Simon Rolfes)

Goal! Atletico 1-0 Bayer (Antoine Griezmann)

Saved! Atletico 0-0 Bayer (Hakan Calhanoglu)

Missed! Atletico 0-0 Bayer (Raul Garcia)

Atletico will take the first penalty...

Diego Simeone is at the centre of his team's huddle providing some last minute words of wisdom. His side's record in European penalty shoot outs isn't too bright, however.

END OF EXTRA TIME

Atletico Madrid 1-0 Bayer Leverkusen (1-1 on aggregate)

Penalties it is!

It's stayed very cagey as we count down to penalties in Madrid. Four minutes of extra time remaining.

Rolfes tries his luck with a wonderful dipping effort from 40 yards out that almost catches Oblak out, but his effort veers just wide.

With over 100 minutes gone, Turan races back into his own half, wins the ball, manages to keep it under control while on his knees before brilliantly skipping away from two Leverkusen players. Outstanding effort from him.

Arda Turan does brilliantly out on the right, shifting past his man before sliding the ball infield to Raul Garcia. He takes a touch before whipping a vicious strike on target, drawing a good save out of Bernd Leno

HALF TIME IN EXTRA TIME

Pretty tame first 15 minutes of extra time here. Penalties look inevitable.

Lars Bender goes down with cramp, much to the annoyance of the crowd at the Vicente Calderon. The German international has got it so bad he's unable to continue, however, and is replaced by Kyriakos Papadopoulos

Fernando Torres goes down in the box, claiming he was caught in the face by a stray elbow. The ref isn't interested, but moments later Raul Garcia is down clutching his face, claiming he was caught by the stray arm of Rolfes. Judging by the nasty cut just below his eye, he may have a case, you know.

Atletico got themselves back into this tie thanks to a deflected effort from Mario Suarez in the first half.

Our focus now shifts to Atletico Madrid and Bayer Leverkusen. Atletico lead 1-0 in the night and we are poised at one each over two legs. Extra time underway.

That's it! Arsenal go out at the last 16 stage yet again. A 2-0 win in Monaco wasn't enough to prevent them going out on away goals this evening.

FULL TIME

Monaco 0-2 Arsenal (3-3 on aggregate)

MONACO PROGRESS ON AWAY GOALS

Monaco win a free kick on the half way line and have a great chance to waste more time, but amazingly, opt to try and spring a counter! They are immediately pulled back for offside and Arsenal can launch it into the box again.

Another Arsenal attack breaks down and Subasic calls for his defenders to leave the ball for him to collect. Another few seconds wasted.

Two minutes of added time remaining.

Monaco have forgotten how to play football and can only momentarily clear for few seconds. Mertesacker almost sneaks clear as the ball comes back and goes down but the ref isn't interested.

Arsenal probe carefully but Ramsey is robbed down the right wing. Monaco haven't got the energy to do much however and Arsenal come right back.

Five minuted of stoppage time added on.

It's all gotten very messy at this stage as Arsenal try to poke their way through. Gibbs this time tries to sneak in but is blocked off. Moutinho can carry the ball forward but is quickly robbed and Arsenal come again.

Another change for Monaco as Elderson Echiejile comes on for Nabil Dirar. Four minutes plus added time to go, you feel Arsenal will score before then.

What a save from Subasic! Arsenal win a free kick and Cazorla can float it into the far post! Both Sanchez and Giroud have pulled away from the markers and between them they force something on target, only for the Monaco 'keeper to claw the ball off the line!

Giroud works a yard of space and finds Ramsey in the box. He twists and turns looking for a chance to shoot but it's blocked. Monaco looking really desperate here.

Arsenal have another! Walcott sees his effort come back off the post and Kurzawa has the chance to clear. Instead, he digs it right into the path of Ramsey, who moves the ball onto his right foot before slamming a precise effort into the bottom corner. Arsenal need one more.

Goal! Monaco 0-2 Arsenal (Aaron Ramsey)

Walcott races though the middle trying to get onto a hopeful ball over the top only for Wallace to get there just ahead of him and toe the ball back to his goalkeeper, who picks it up. Was that a backpass? The ref doesn't think so.

Ditmitar Berbatov's evening is over, he trots off to be replaced by Bernado Silva. Arsenal also make a change with Theo Walcott replacing Welbeck.

Arsenal fans have flashbacks from the first leg as Ferreira Carrasco bombs down the inside right. He has no support, so opts instead to cut inside and take everyone on, but is eventually stopped in his tracks by Mertesacker.

Arsenal trying their luck down the right with a bit more urgency now, but they are still struggling to find a telling final ball. Just under 25 minutes remain, and the away side still need two goals.

Ramsey is immediately involved, winning the ball down the inside right channel before working the ball back to Welbeck. He fizzes the ball into Ozil on the edge of the box who lashes a a vicious half volley on goal but can only watch it veer wide.

First chance for Arsenal, Aaron Ramsey comes on for Francis Coquelin.

Sanchez clips Berbatov but is spared a second yellow. Monaco meanwhile make their first chance of the game with Yannick Ferreira-Carrasco replacing Anthony Martial.

Arsenal just about survive a frenetic spell of pressure from the home side! Monaco lift a series of balls into the box that Arsenal fail to clear on each occasion. Moutinho eventually gets to a loose ball first and tries to work the space to take on the shot but his blocked off by Koscielny. A nervous few moments for Arsene Wenger's side.

Sanchez takes this one, but it bypasses all of his teammates in the middle and Monaco can breathe again.

Arsenal given a rare scare. Kondogbia steam rolls his way through the heart of Arsenal, powering past two men before easing a through ball in for Dirar who is ruled just offside.

Up the other end, Sanchez is bundled over and Arsenal have the chance to lift another free kick into the danger zone.

Ozil aims for the top corner and nearly finds is, drawing a decent save out of Subasic. Arsenal corner.

Kondogbia is shown a yellow card for a late challenge on Sanchez after the Chilean had popped off a one two with Welbeck. Arsenal have the free kick in a decent position about 25 yards out from goal.

Ozil's corner is cleared but Arsenal get a second go though Bellerin, but his cross is easily collected.

Arsenal come forward again with Cazorla, Sanchez and Welbeck combining with some neat one touch football,. It's fed out for Ozil whose cross goes out for a corner.

After a couple of sloppy passes that almost allow Monaco in Arsenal spring into action, with Sanchez tearing down the inside left channel. He cuts the ball back inside to Giroud who can't get a clean connection and scuffs wide. He wants a corner, but the referee isn't listening.

And we are back underway for the second half.

HALF TIME

Monaco 0-1 Arsenal (3-2 on aggregate)

Atletico Madrid 1-0 Bayer Leverkusen (1-1 on aggregate)

Welbeck fashions one more half chance, cutting in from the right to drill a shot across goal, but it is a comfortable enough save for Subasic. And that will be all for now.

Arsenal close to a second! Welbeck does brilliantly down the left, working the ball inside his man and drilling a cross into the six yard area. Giroud gets a foot to it, but can only steer it straight into the goalkeeper's arms.

One minute of time added on at the Stade Louis II.

Monaco clinging on a bit here, but get some respite as Alexis is shown a yellow card for diving! Under pressure from Fabinho, the Chilean hits the deck on the edge of the box and the referee has no hesitation in booking the Arsenal man.

Arsenal nearly hit back with another!

A cross in from the left comes to Welbeck on the edge of the box who drives a low effort on target. His shot rebounds off the backside of Abdennour who knew nothing about it, and Subasic is a relieved man as the shot rolls wide.

Arsenal pull one back! Cazorla breaches the Monaco back line with a superb through ball down the inside left channel for Giroud. His first effort is blocked by the onrushing Subasic but he follows it up by slamming the second into the roof of the net. 3-2 on aggregate, Arsenal need two more.

Goal! Monaco 0-1 Arsenal (Olivier Giroud)

A bright move from Monaco involving Kurzawa and Martial down the left wins Monaco a throw in deep in enemy territory.

Alexis Sanchez sees his cross from the left partially cleared and Welbeck is on the end to nod it back into the six yard area for Giroud, but under pressure, the Frenchman can only nod wide.

Atletico have the lead! It's 1-1 on aggregate as Koke's free kick into the box was cleared, but only as far as Mario Suarez, whose drilled effort takes a wicked deflection en route to finding the back of the net.

Goal! Atletico Madrid 1-0 Bayer Leverkusen (Mario Suarez)

Another nervy moment for the home side as Kurzawa loses the ball from a throw in and allows Sanchez to advance menacingly. The Chilean appears to overrun it as Subasic comes out to claim, but it slips away from the goalkeeper and almost falls nicely for Welbeck with the goal gaping. Monaco regroup however and clear the danger.

Koscielny hits the bar! The Frenchman leaps to connect with a free kick swung in from the left and rattles the woodwork, but the linesman flag had already gone up.

Arsenal have taken control here but have yet to really spring Monaco open. Wallace and Abdennour have been forced into making one or two blocks, but nothing to desperate at this stage.

Giroud pulls out to the left and does brilliantly to nip inside his man dink a ball over for Cazorla on the edge of the box. The Spaniard goes for the volley, but doesn't get a clean collection and fires into the combination of Abdennour and Wallace and Monaco clear.

Welbeck now is freed down the left and cuts inside menacingly. His second touch isn't a great one however and it invites Wallace across to intercept with a well timed tackle.

Arsenal enjoying a bit more of the ball now. Hector Bellerin scampers down the right and swings an excellent cross into the box. Giroud is well marshalled by Abdennour, but he still manages to get his head on the ball but can't keep it on target.

Kurzawa lifts a throw in straight into the feet of Cazorla and Arsenal momentarily threaten to spring forward. The home side reorganise quickly however and slow Arsenal's move right down.

Comfortable start from Monaco here, Arsenal are yet to venture into the final third.

Coquelin narrowly avoids a booking after a rash sliding challenge on Moutinho. The Portuguese shielded the ball excellently to win the free kick, but his set piece is a poor one, floating the ball into the arms of Ospina.

Abdennour is left in a heap after crashing into Olivier Giroud. Arsenal's Frenchman receives a ticking off from the referee.

First opportunity of the game falls to Monaco. Kurzawa easily comes down the left flank and slides a simple pass into Berbatov inside the box. He can't shift the ball into a shooting position and instead rolls it back to Moutinho on the edge of the box but the Portuguese midfielder lifts a poor shot over the bar.

And we are off underway at the Stade Louis II. Arsenal have some history to rewrite.

Arsenal have made a habit of making things hard for themselves in this competition. Two years ago they secured a 2-0 second leg win over Bayern Munich at the Allianz Arena, only to still go out having fallen 3-1 at home in the first leg.

The year before that, the Gunners were crushed 4-0 by Milan at the San Siro in their first leg last 16 clash. Arsenal rallied superbly, but a 3-0 win back in north London wasn't enough. Can they buck the trend this evening?

Three goals this evening is an absolute minimum for Arsenal.

Wenger's side have won by a three goal margin away from home twice already this season – albeit in very different circumstances. The Gunners sauntered to a 3-0 win over Aston Villa at Villa Park in September before hitting four away to Galatasaray in December.

Last season's runners up must come from a goal behind tonight if they want to stand any chance of progressing tonight. Here is the Atletico Madrid side Diego Simeone has selected:

In order to save their European campaign, Arsenal must tonight become the first side in Champions League history to turn around a two-goal deficit away from home in the second leg of a knock out tie. Against the team who boast the meanest defence in France who haven't conceded three goals in a single game at home for three and a half years. Is there anything else against them this evening? Oh.

So there are three changes for Arsenal from the side that beat West Ham on the weekend with Danny Welbeck, Hector Bellerin and Cazorla coming in for Chambers, Walcott and Ramsey.

With the formidable presence of Toulalan and Kondogbia marshalling the Monaco midfield, are Arsene Wenger's options in the middle of the park a tad light?

BREAKING: Jeremy Toulalan and Geoffrey Kondogbia both start after missing Friday'[s league win through injury.

Monaco team to face Arsenal: Subasic; Fabinho, Wallace, Abdennour, Kurzawa; Toulalan, Moutinho, Kondogbia; Dirar, Martial, Berbatov

BREAKING: Danny Welbeck starts for Arsenal with Aaron Ramsey taking a spot on the bench.

Arsenal team to face Monaco: Ospina, Bellerin, Mertesacker, Koscielny, Monreal, Coquelin, Cazorla, Welbeck, Ozil, Alexis, Giroud

Subs: Szczesny, Gibbs, Ramsey, Walcott, Chambers, Flamini, Gabriel

Official team news is expected imminently, but it looks like Danny Welbeck may be starting...

No official word from Monaco yet, but early suggestions on Twitter indicate their starting XI against Arsenal will be: Subasic, Kurzawa, Abdennour, Wallace, Fabinho, Kondogbia, Toulalan, Martial, Moutinho, Dirar, Berbatov.

Monaco meanwhile have a couple of faces back in their squad tonight. Both Jeremy Toulalan and Ricardo Carvalho missed the first leg through suspension and injury respectively, but the veterans are both in contention to start tonight.

Powerful midfielder Geoffrey Kondogbia and Belgian winger Yannick Ferreira-Carrasco are also likely to feature. The duo, who both scored in north London, missed Friday's league victory over Bastia with injuries, but returned to training on Monday.

Arsenal's attempt to make history won't be helped by a handful of absences in their squad. Jack Wilshere remains out with an ankle problem while Alex Oxlade-Chamberlain is facing a month out with a hamstring injury. Mikel Artrtea also remains sidelined along with January arrival Gabriel Paulista, who is still struggling with a hamstring problem of his own.

The job at hand for Arsenal this evening is pretty straight forward: make Champions League history. No team in this competition has ever turned around a two-goal deficit away from home in the second leg of a knock out tie. Having been humiliated by Monaco in north London last month, that is exactly what they must to do tonight to ensure there is an English presence in the quarter-finals.

The Gunners must score three goals this evening to ensure they have any chance of progressing tonight against the meanest defence in Ligue 1. The last time Monaco conceded three goals at home? Three and a half years ago.

Our focus will be on Arsenal's attempts to save their own and the Premier League's blushes this evening but we will also keep you updated on all the action from the Vicente Calderon where Atletico Madrid are aiming to fight back from 1-0 down against Bayer Leverkusen.