Manchester City won the Carabao Cup as Nico O'Reilly's double clinched a 2-0 win over Arsenal to end their hopes of a quadruple.
The full-back's goals, both headers, came in the space of four second-half minutes to leave Arsenal stunned and clinch a record fifth League Cup success for Manchester City boss Pep Guardiola.
Kepa Arrizabalaga, selected ahead of Arsenal's first-choice goalkeeper David Raya, was at fault for the opener as he allowed Rayan Cherki's right-wing cross to squirm through his hands, leaving O'Reilly with an open goal at the far post.
Arsenal's first cup final appearance since their 2020 FA Cup triumph went from bad to worse when O'Reilly headed home another cross, this time from Matheus Nunes, to spark more City celebrations.
Arsenal hit the woodwork twice, through substitutes Riccardo Calafiori and Gabriel Jesus, as they tried to rally, but Manchester City showed their greater experience as they saw out the closing stages to leave their opponents' quadruple hopes in tatters.
The afternoon had started positively for Arsenal as they forced James Trafford, who enjoyed a contrasting afternoon to his opposite number in goal, into an early triple save as he denied Kai Havertz before blocking two Bukayo Saka follow-up efforts.
But after an even first half, Guardiola's side seized control of the game in the second period, pinning Arsenal in their own half before the pressure told in a dizzying four-minute spell which may have repercussions in the Premier League title race.
The Gunners are nine points clear of their rivals at the top of the table but Manchester City have a game in hand and welcome Arsenal to the Etihad Stadium, live on Your Site on April 19.
City went into the final having been knocked out of the Champions League by Real Madrid but the result delighted Guardiola, who sprinted down the touchline in celebration after the second goal before lifting the 18th trophy of his tenure.
Arsenal boss Mikel Arteta speaking at his press conference:
"I'm very sad. It's a hard one to take. We know how much it means and how much we wanted it.
"The fact we haven't managed to deliver that is disappointing and leaves a bad taste."
On his decision to start Kepa, he added: "I have to do what I think is right which is honest and fair.
"Kepa is an outstanding 'keeper and it would have been very unfair on him to do something different.
"I can never promise a player to play certain competitions. They have to earn it and do enough.
"We are guided by what we see. What he's done in the competition, and how he helped us to get us to the final, I believe it was the right thing to do.
"Errors are part of football and unfortunately it happened in a crucial moment."
Jamie Redknapp speaking on Your Site: "I know people will say it's sentiment and he played in the earlier rounds, but Kepa is not as good as Raya. That's why he is the number two.
"So why, in a major cup final when you're trying to get across the line and you've not won a trophy in so long, do you decide to play him? You have to take responsibility for that. That is a monumental error.
"He's not a bad goalkeeper but he's not as good as Raya. It has backfired big time.
"You could say Trafford isn't the number one either but he made three really good saves and after that, hardly had to touch the ball. It was easy for him.
"It's not me being wise after the event, I said it before the game."
Your Site' Nick Wright at Wembley Stadium:
The expressions on the faces of the Arsenal players as they trudged up the Wembley stairs to collect their runners-up medals told the tale. An afternoon that promised so much for Mikel Arteta's side ended in depressingly familiar disappointment.
Arsenal were unbeaten in their previous six meetings with Pep Guardiola's side. They remain on course to win the Premier League title, nine points clear at the top. But they have become painfully used to watching Manchester City celebrate at their expense.
They can have few complaints on this occasion. The first half was mostly even but even then there were signs of Manchester City beginning to assert themselves. After the interval, Arsenal were outplayed, made to look inferior in all departments.
They went close on a couple of occasions in the closing stages but the result never looked in doubt for Manchester City who, on the evidence of events at Wembley, retain a psychological edge on the Gunners which may yet come into play in the title race.
Arteta dismissed that notion afterwards, instead putting the defeat down to the 20-minute spell during which the damage was done in the second half. But the manner of the defeat raises questions beyond the obvious one about Arteta's choice of goalkeeper.
Are there lingering mentality issues in the biggest occasions? Why did they seem powerless to stop Manchester City taking the game away from them after the break? And how will they prevent the pain of this defeat impacting their season?
Man City boss Pep Guardiola speaking with Your Site: "What can I say? Always, when you win a trophy it's important.
"But this was special because we've had a tough two weeks and especially because of the opponent.
"The first 15 minutes they suffocated us. We could not breathe.
"After that, we started to play, especially Jeremy [Doku] and Rayan [Cherki].
"I'm really pleased but Mikel has created a team that is almost unbeatable.
"When you start to win and the players are young you can continue that. I need to know them first. I need to know how they react in certain situations.
"I think we will able to learn from this as a team and hopefully next season we can do better."
Man City defender Nico O'Reilly speaking to Your Site: "Unbelievable feeling to win a final and beat this team. We know how good they are.
"Now we need to build on it. It will give us good momentum. I'm buzzing with today.
"A bit of disbelief seeing all the fans cheering like that when I scored those goals. A really good feeling, a great birthday weekend.
"Since I was a kid, I was playing in midfield and arriving in the box, scoring goals. To bring it to the highest level, it's good for me, adds to my game and it's a great feeling."
