A pair of sensational Declan Rice free-kicks set on their way to a breathtaking victory over in the first leg of their quarter-final. Mikel Merino added a third 15 minutes from time to leave the reigning champions' defence of their title hanging by a thread.
Rice opened the scoring in some style, slamming home a 30-yard free-kick early in the second half which gave no chance. They didn't need to wait long for their second, though, and Rice was the main man once more.
If the first goal was good, his second was arguably better. From the moment the ball left his boot, there was only one place it was going.
Merino was denied twice in quick succession with the score at 1-0, with David Alaba clearing his first effort off the line and Courtois keeping out his second. He eventually got his goal, though, sending a sharp finish into the far corner of Courtois' net.
Arsenal will travel to the Spanish capital next week with a golden opportunity to march through to the semi-finals. Their opponents will know they have to be much better to stand any chance themselves - and things got worse as Eduardo Camavinga picked up a second yellow card late on for kicking the ball away.
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Both teams had less-than-ideal preparations for the game. Arsenal struggled to create much in a Saturday draw at , while Real Madrid suffered a shock home defeat to Valencia over the weekend. Arsenal may have felt more pressure to take the game to their opponents while they held home advantage, though, and Mikel Arteta's side were boosted in that regard by Bukayo Saka's return to European action.
The Gunners were denied a half-time lead when Courtois made a sharp double-save. First he got down to his right to palm away a Rice header, and he had to get back to his feet quickly to deny Gabriel Martinelli's well-struck shot on the rebound
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Ultimately, though, the hosts ran riot in the second half to leave their opponents shellshocked. Here are Mirror Football's talking points from the Emirates Stadium.
1. Arsenal's new set piece kingReal Madrid's struggles at defending set pieces came up during the build-up to the game. Early on, we got a glimpse of why they may have been so worried, with a delivery causing panic and the ball striking William Saliba when it might have crept over the line.
It turns out set piece prowess can take many forms, though. Earlier in the season, it meant centre-backs attacking high balls in, but Rice showed there's another path to goal.
You'd be hard-pressed to find another pair of free-kicks in the same game with that level of quality. To do it on the biggest stage tells its own story.
2. Courtois can only do so muchThibaut Courtois knows better than most what it takes to excel in the sharp end of the Champions League. He helped take Atletico Madrid within a minute or two of glory in 2014, and needed to be at his best in his two wins with his current club.

The big double-save at the end of the first half wasn't the best he will pull off, but doing so after having relatively little to do before then is what matters. And his second half stop from Merino wasn't too shabby either, and might have been more important without what came either side.
There wasn't a lot he could have done with Rice's opener, though, with the England star producing pace and curl to send the ball flying into the corner. Sometimes a player produces a moment of brilliance that even the best keeper can't deny, and sometimes they do it twice.
3. Saka approaching his bestThere was a shaky moment for Saka early on when his loose pass allowed Vinicius Junior to break, but the star couldn't take full advantage as his final ball was found lacking. A bit of rustiness could probably be expected when you consider the England star's last Champions League minutes came in mid-December against Monaco.
Eight minutes from half-time, we saw the Saka we've come to know and love for the first time. He created the tiniest opening from nothing, sliding a low ball across the six-yard box, but no Arsenal body was there to take advantage,
A couple of minutes later, he got free again and once again there was no one waiting for the tap-in. It's the sort of thing which had some lamenting the lack of an orthodox striker in place of Mikel Merino... until Merino got in on the act himself.
4. Two stars at opposite ends of their careerWhen Myles Lewis-Skelly was born, Luka Modric already had 10 senior caps and one senior goal for Croatia. That probably gives you enough of an idea of the different stages of their careers the two players are at.
Arsenal's left-back - who, let's not forget, was considered a midfielder less than a year ago - has been asked to grow up fast over the last few months. And yet, in the opening half hour, he looked as deserving of his place on the pitch as anyone else, whereas Modric struggled to assert himself before being withdrawn early.
Lewis-Skelly became just the second Englishman to start a Champions League quarter-final aged 18 or younger. The first? None other than opponent-for-the-night .
5. Real Madrid have it all to doThis time a little under six years ago, went into the second leg of a Champions League knockout tie looking to overturn a three-goal deficit. Real Madrid will know it has been done before, but it would require a big second-leg display.
Of course, you can never write off Real Madrid in Europe. Los Blancos have come back from the dead enough times by now for us to know that.
If Carlo Ancelotti's side are to launch an escape act this season, though, it will take a monumental effort. And that's all down to Arsenal producing something incredibly special of their own at home.
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