United States

The host started well in the tournament, trashing debutant Belize with 6–1. Three goals came from striker Chris Wondolowski in the first half. In the second game, the U.S. fell behind after José Ciprian Alfonso converted a cross from Ariel Martínez. After left-back Edgar Castillo was tripped by Yénier Márquez in the injury time of the second half, Donovan scored from the penalty spot to make it 1–1. Joe Corona gave the U.S. the lead with a shot from just outside the box in the 57th minute and Wondowlowski, coming on as a substitute, added two more goals, making the final score 4–1. In the final group game, the U.S. faced Costa Rica in order to determine the group winner. Substitute Brek Shea scored the only goal of in the match in the 82nd minute.

In the quarterfinal, the U.S. faced El Salvador who had qualified as one of the two best third-placed teams. Defender Clarence Goodson gave the hosts the lead in the 21st minute. Goalkeeper Nick Rimando made two fine saves against Léster Blanco and Richard Menjivar before Joe Corona scored a second goal for the United States. Rodolfo Zelaya converted a penalty after he was fouled by U.S. Captain DaMarcus Beasley in the 39th minute, making it 2–1 at half-time. Only seconds after coming in, Eddie Johnson headed in a corner by Landon Donovan in the 60th minute. Donovan and Mix Diskerud added two more goals, giving the U.S. a clear 5–1 win.

In the semifinal, the hosts had to defeat Honduras in order to advance to the Chicago final. Eddie Johnson scored an early goal and Donovan doubled the lead in the 27th minute. In the second half, a header by Nery Medina brought hope for Honduras, but once again Donovan netted in to make it 3–1. It was the final goal of the game. Late in the Honduras match, U.S. manager Jürgen Klinsmann was sent off for arguing a foul on DaMarcus Beasley, which, by rule, meant a one-match suspension. Attempts to appeal by the U.S. Soccer Federation were unsuccessful; the U.S. was forced to replace Klinsmann with assistant Andreas Herzog and scout Martin Vasquez.

Panama

Panama surprised at the opening game by beating reigning champions Mexico. Gabriel Torres converted a penalty to make it 1–0 in the 7th minute after Raúl Jiménez brought down Alberto Quintero inside the penalty box. Mexico equalized through Marco Fabián seconds before halftime. Gabriel Torres scored the winning in the 48th minute after a cross from Alberto Quintero. In the second match against Martinique, Panama had to wait long for the lead. When Martinique was down to ten men due to the dismissal of Jacky Berdix, substitute Jairo Jiménez was fouled by Sébastien Crétinoir inside the penalty box. Again Gabriel Torres scored the winning goal by converting the penalty in the 85th minute. In the final group game, a nearly complete different team played out a goalless draw against Canada. The result was enough to see Panama through as winner of Group A.

In the quarterfinal, Panama played against Cuba, who had trashed Belize 4–0 to make it through as one of the two best third-ranked teams. Panama initially fell behind when José Ciprian Alfonso converted a chip pass by Jaime Colomé in the 21st minute. However, when Cuban defender Renay Malblanche blocked a shot from Marcos Sánchez with his hand inside the penalty box, referee Mark Geiger gave Panama a penalty kick. Once again Gabriel Torres stepped up and made it 1–1 only four minutes after the Cuban goal. In the 37th minute, Torres scored another goal, this time after a headed pass by his co-striker Blas Pérez. In the second half, Cuba was decimated after Ariel Martínez was sent off after a high challenge on Blas Pérez. Panama went on to score four more times, making the final result 6–1.

In the semifinal, the Canaleros once again faced title defender Mexico. Panama took an early lead through a goal from Blas Pérez in the 13th minute, but Luis Montes equalized for El Tri midway through the first half. In the 61st minute, Panama skipper Román Torres headed in a corner by Gabriel Torres, once again giving his team the lead. This time, it lasted till the final whistle, despite several good opportunities for the Mexicans.

Summary

Before the match, suspended U.S. manager Jürgen Klinsmann was escorted to a suite inside Soldier Field to watch the match. During some cuts in between stoppages on FOX, Klinsmann could be visibly seen reacting to every missed chance by the U.S. In the 19th minute, Stuart Holden suffered a sprained knee on a collision with Alberto Quintero and was substituted by Mix Diskerud.^[3] The only goal of the game came from Brek Shea in the 69th minute when he touched into an open net from inches out with his left foot after a cross from the right by Alejandro Bedoya had passed Panama's goalkeeper Jaime Penedo.^[4] Shea scored after only entering the game as a substitute for Joe Corona 42 seconds earlier.^[5][6] The win gave the United States its fifth Gold Cup championship.^[7][8]

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United States	1–0	Panama
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United States

Panama

GK 1 Nick Rimando RB 15 Michael Parkhurst CB 25 Matt Besler CB 21 Clarence Goodson LB 7 DaMarcus Beasley (c) CM 14 Kyle Beckerman CM 11 Stuart Holden  23' AM 20 Alejandro Bedoya  63'  89' AM 6 Joe Corona  68' CF 10 Landon Donovan CF 26 Eddie Johnson  90' Substitutions: MF 8 Mix Diskerud  23' MF 23 Brek Shea  90+4'  68' DF 24 Omar Gonzalez  89' Manager:[note 1][9] Andreas Herzog Martín Vásquez

GK 1 Jaime Penedo RB 2 Leonel Parris  90+1' CB 23 Roberto Chen CB 5 Román Torres (c) LB 4 Carlos Rodríguez RM 8 Marcos Sánchez CM 6 Gabriel Gómez  74' CM 20 Aníbal Godoy LM 19 Alberto Quintero CF 7 Blas Pérez CF 9 Gabriel Torres  64' Substitutions: MF 18 Jairo Jiménez  90+4'  64' FW 16 Rolando Blackburn  74' Manager: Julio Dely Valdés