Kylian Mbappe scored the winner as France came from behind to beat Spain 2-1 and win the Nations League.
Mikel Oyarzabal followed up his pair of semi-final assists against Italy with Spain's opening goal but Karim Benzema quickly hit back before Mbappe's winner.
It was a second successive comeback win for Didier Deschamps' side after their thrilling 3-2 semi-final success against Belgium.
An error from Kounde allowed Sarabia to race clear down the flank, but his cross eluded Oyarzabal and Ferran Torres. A half-chance to Mbappe was then snuffed out by Alonso before the game burst into life in a dramatic three minutes.
Theo Hernandez, who scored France's late winner against Belgium on Thursday, was the width of the crossbar away from repeating the feat, but instead Spain broke up the other end and Oyarzabal latched on to Sergio Busquets' long pass, took on Upamecano and scored in the 64th minute.
However, France were level two minutes later as Pogba and Mbappe combined to create the chance and Benzema curled home brilliantly from a narrow angle.
Mbappe shot off target and had another effort blocked by Aymeric Laporte, while Unai Simon saved from Pogba as Didier Deschamps' side took the upper hand.
And they got their full reward when Mbappe delayed his run to race on to Hernandez's through-ball and finish clinically beneath Simon, with the goal upheld by VAR after a check for offside.
With kick-off at 7.45pm BST, follow all the action at the San Siro with our dedicated live blog!
Spain vs France highlights
GOAL! Oyarzabal fires Spain ahead
GOAL! Benzema hits back
GOAL! Mbappe wins it!
17:51 , Jack Rosser
Good evening and welcome to the Evening Standard’s live coverage of Spain vs France in the Nations League final.
Kick-off time and venue
18:01 , Jack Rosser
Spain vs France is scheduled for a 7:45pm BST kick-off tonight - Sunday, October 10, 2021.
The match will take place at the San Siro stadium in Milan, Italy.
How to watch
18:17 , Jack Rosser
TV channel: Sunday’s final will be televised live on Sky Sports Premier League and Sky Sports Football, with coverage beginning at 7:30pm.
Live stream: Sky Sports subscribers will also be able to watch the match online via the Sky Go app.
Early team news
18:31 , Jack Rosser
Ferran Torres went off injured after his first-half brace against 10-man Italy, but expects to be fit for Sunday’s final.
However, Spain boss Luis Enrique sounded a more cautious note, saying: “I'm not sure how Ferran will be.
"He had a knock in the first half and another in the second half so we decided to take no risks."
France did not appear to sustain any new injuries in that epic clash with Belgium, with Kylian Mbappe back fit after missing last month’s 2-0 win over Finland.
Match-winner Theo Hernandez and brother Lucas also became the first siblings to line up for Les Bleus since Patrick and Herve Revelli back in 1974.
However, Everton full-back Lucas Digne has since withdrawn from the squad with a muscle problem.
18:46 , Jack Rosser
Here is how the two teams lineup for the final...
Spain XI: Simon, Azpilicueta, Garcia, Laporte, Alonso, Busquets, Rodri, Gavi, Sarabia, F Torres, Oyarzabal
France XI: Lloris (c); Kounde, Varane, Kimpembe; Pavard, Tchouameni, Pogba, T. Hernandez; Greizmann; Mbappe, Benzema
19:04 , Jack Rosser
Today’s final marks the first meeting between these two teams for four years, with Spain beating France 2-0 in a friendly back in March 2017 courtesy of goals from David Silva and Gerard Deulofeu.
Spain wins: 16
France wins: 12
19:15 , Jack Rosser
Spain to lift the trophy: Evens
France to lift the trophy: 31/20
Odds via Betfair (subject to change).
19:27 , Jack Rosser
Will these two hit it off up top once more tonight?
19:37 , Jack Rosser
Antoine Griezmann joins a special club this evening as the forward makes his 100th appearance for France.
19:46 , Jack Rosser
We’re underway in Milan!
19:52 , Jack Rosser
6 mins: How are France not ahead! Pogba plays Benzema in behind and he’s quickly around the goalkeeper but goes too wide and can’t cut it back. Azpilicueta puts it out for a corner which is well defended.
19:58 , Jack Rosser
12 mins: A first sight of goal for Spain as Torres drifts in and plays a wonderful ball through for Sarabia but he can’t quite get a good connection on it and Lloris saves easily. A nice move in response to a good start from France.
20:01 , Jack Rosser
16 mins: Spain are growing into this now after France made the better start. Torres has been particularly bright down the right while 17-year-old Gavi is not afraid of getting involved.
20:07 , Jack Rosser
21 mins: Not too much in the way of chances so far, one decent look for either side, but the quality on the ball is superb. Tchouameni wins a free-kick after a foul from Rodri.
20:11 , Jack Rosser
26 mins: Benzema finds a pocket of space after some fine football going forward but his strike is blocked. Very fine margins in this one at the moment.
20:14 , Jack Rosser
29 mins: Spain now looking to find a way in behind the French defence but again it’s a poor connection on the ball from Sarabia which lets them down. His cross is soft and Varane clears with ease.
20:17 , Jack Rosser
32 mins: It has been oh-so tight so far. Just the one shot on target from either side but some enticing football. Both sides pushing one another.
20:22 , Jack Rosser
37 mins: The temperature is rising a little in this one and Tchouameni may be lucky not to get a yellow card as he brings down Torres. Free-kick from shooting distance for Alonso but he sends it just wide.
20:25 , Jack Rosser
39 mins: France probing up the other end now but Pogba’s ball over the top for Griezmann is too heavy and Simon collects. Spain race up the other end and Varane is forced to put Gavi’s cross behind for a corner.
20:26 , Jack Rosser
41 mins: France are going to be forced into an early change here by the looks of it. Varane looks like he picked up a problem when putting Gavi’s cross behind and has now gone down.
20:27 , Jack Rosser
43 mins: It is a change before the break for France as Varane is replaced by Upamecano.
20:33 , Jack Rosser
All square at the break in what has been a very tight and nervy final so far.
20:50 , Jack Rosser
We’re off once more at the San Siro, who will break the deadlock?
20:51 , Jack Rosser
46 mins: Pogba goes into the book after a little stamp on Busquets.
20:58 , Jack Rosser
53 mins: Pogba looks a little wound up and the moment, which isn’t fantastic so soon after a booking. Still no real breakthrough for either side, who is going to step it up?
21:06 , Jack Rosser
61 mins: A first change for Spain as Pino replaces Sarabia. We’re now getting beyond the stage of this being an interesting tactical battle to the point where something could do with happening...
GOAL! Spain 1-0 France
21:09 , Jack Rosser
64 mins: Seconds after France hit the bar Spain take the lead! Oyarzabal shows great strength and adds a fine finish past Lloris.
GOAL! Spain 1-1 France
21:10 , Jack Rosser
66 mins: No sooner that Spain are in front, Les Blues are back! Benzema! What a goal that is from the French striker, who cuts in from the left on the edge of the box and bends a brilliant effort into the far corner.
21:17 , Jack Rosser
73 mins: This has suddenly sparked into life. After being edgy and nervy for so long, we’ve now got space and a real end-to-end contest in Milan.
21:19 , Jack Rosser
75 mins: A change for Spain as 17-year-old Gavi is replaced by Koke.
21:23 , Jack Rosser
79 mins: A change for France now as Deschamps sends on Dubois for Pavard.
21:25 , Jack Rosser
81 mins: Mbappe has the ball in the back of the net but it’s being checked for offside, it’s very close...
GOAL! Spain 1-2 France
21:27 , Jack Rosser
81 mins: They’ve come from behind again! Mbappe shows some brilliant composure after being played in behind by Hernandez. He throws in a stepover before finishing low and well past Simon.
21:29 , Jack Rosser
85 mins: More changes for Spain as Fornals and Merino are on for Torres and Rodri
21:33 , Jack Rosser
88 mins: What a stop from Lloris! The Tottenham keeper is down low and left to deny Oyarzabal
21:35 , Jack Rosser
90 mins: We’ve got five minutes added on at the San Siro and Spain are throwing everything forward to find a late leveller!
21:36 , Jack Rosser
90+2 mins: A change from France as Vertout replaces Griezmann.
21:39 , Jack Rosser
90+4 mins: Simon is up as Spain win a last ditch corner... Lloris is there again! The France captain makes another fine save to deny Pino.
FULL TIME | Spain 1-2 France
21:40 , Jack Rosser
FRANCE WIN THE NATIONS LEAGUE
Victory and defeat
21:47 , Jack Rosser
Contrasting emotions at the San Siro
21:55 , Jack Rosser
It won’t mean too much right now but Sergio Busquets is named player of the tournament before our English officiating team claim their medals.
21:57 , Jack Rosser
Spain now trudge up to collect their runners-up medals.
21:58 , Jack Rosser
Didier Deschamps now leads his side onto the podium to collect the trophy.
Allez Les Blues
22:00 , Jack Rosser
Hugo Lloris lifts the trophy as France celebrate winning the Nations League 2021