With Melbourne leading by 11 points at three-quarter time, the match is remembered for its thrilling last quarter. In the early stages, Melbourne had plenty of opportunities to kick goals but could only manage behinds, and it was Collingwood's
Des Tuddenham who kicked the first goal of the term. Seventeen minutes into the quarter, Collingwood trailed by nine points, but narrowed the margin to three when
Ray Gabelich kicked a goal from a boundary throw-in. Gabelich kicked another to take the lead soon afterwards, with a goal considered among the most famous in grand final history: he had received the ball near centre half-forward, and, due to Melbourne having spent the previous minutes in its own forward line and Collingwood moving the ball upfield quickly, there were no defenders ahead of him; a 109 kg ruckman, Gabelich ran towards the goal, bounced the ball four times, nearly losing it on each occasion, and, with Melbourne players gaining on him, kicked the goal from close range. After play restarted, Melbourne's
Barry Bourke kicked the ball into their forward line, and it was marked by rover
Hassa Mann. He was directly in front and only 20 metres out, but his shot for goal came off the side of his boot and could only manage a behind. Melbourne had another chance to win the game, however, when they kicked the ball towards the goal square. A big pack of players went for the ball, but it spilled to the ground, and Melbourne defender
Neil Crompton gathered the ball and kicked a goal. It was his only goal of the season, and he had only been forward because he'd followed his opponent upfield. In the final minutes, Collingwood had the ball in its forward line. Collingwood's Ian Graham had a chance to goal with a difficult snap from the boundary but missed. Melbourne held on against intense pressure from Collingwood until the siren sounded, leaving Melbourne winners by four points.
Aftermath The premiership was the sixth and last won by Melbourne under the coaching of
Norm Smith over a ten-year period, which ranks among the most dominant periods by a club in VFL/AFL history. It was also the abrupt end to this period of success: captain
Ron Barassi, who had played in all six premierships, signed with as captain-coach in 1965, and Smith was temporarily sacked as coach halfway through 1965 despite the club still having the league's equal-best record. This began a club-record 22-year finals drought not broken until
1987, and a club-record 57-year premiership drought not broken until
2021. For more than sixty years, only 17 minutes of
newsreel footage of the match was known to have survived. In June 2025, the television broadcast footage of the entire second half was discovered and published online by historian Rhett Bartlett. ==Teams==