Following the success of the first five seasons of the European Cup, a sister competition, the Cup Winners’ Cup, was launched for the 1960-61 season. The format was a knock-out competition between the winners of each European nation’s domestic cup, but the concept initially received a lukewarm reaction, with Spanish Cup winners Atletico Madrid and French Cup winners AS Monaco turning down invitations to the inaugural tournament. From a field of ten clubs, Fiorentina and Rangers reached the first final. Over two legs the Italians beat Rangers 2-0 in Glasgow and 2-1 in Florence to win 4-1 on aggregate.
Rangers captain Erie Caldow exchanges pennants with his Fiorentina counterpart Alberto Orzan before the 1961 Cup Winners final got underway.