How it unfolded
India entrusted a young squad without Sachin Tendulkar, Rahul Dravid or Sourav Ganguly to Mahendra Singh Dhoni. Gautam Gambhir's 75 off 54 balls carried India to 157 for 5 in 20 overs. Pakistan's top order wobbled against Irfan Pathan, slipping to 77 for 6, but Misbah-ul-Haq held on alone and dragged the match to the final over. With 13 needed off 6 balls, Dhoni turned to part-time bowler Joginder Sharma instead of a frontline option. The first ball was a wide; the next was lofted by Misbah over long-off for six, leaving 6 needed off 4 balls. But Misbah's attempt at a scoop over fine leg fell short, and Sreesanth completed the catch. Pakistan was bowled out for 152 in 19.3 overs, and India won its first T20 World Cup by 5 runs. Pathan was named Man of the Match for figures of 3 for 16.
Why it still matters
The match that reversed the Indian cricket board's skepticism about T20 overnight. Less than eight months after the win, the Indian Premier League launched in April 2008, combining franchise ownership, player auctions and massive broadcast rights into a new economic model that became the template for leagues worldwide. Much of the current structure of cricket's calendar and player careers traces directly back to the outcome of this final.