Spain are aiming to complete a successful defence of the Nations League title but they face a tough challenge against Iberian rivals Portugal, who won the inaugural event in 2019.
Portugal were Nations League champions in 2019 and they can return to the winners' rostrum by seeing off Spain in Munich.
There is plenty of market confidence behind Spain, who are strongly favored to retain the title they won in 2023.
Luis de la Fuente's side were worthy winners at Euro 2024 and have risen to second in the latest FIFA rankings.
And La Roja's offensive quality was on display in Thursday's 5-4 semifinal success over France which would have been much more convincing without a late flurry from their opponents.
Rising star Lamine Yamal netted twice against Les Bleus and is preparing to feature in a second major final at the tender age of 17.
Yamal won't be too concerned about playing a second massive match in four days, but the short turnaround might not be ideal for some of his teammates.
Spain showed signs of fatigue towards the end of the France game and ended up losing the shot count 24 to 16.
They might not be fully recovered for the weekend and any drop off in performance could be exploited by an opponent with the capability of causing problems for any team in the world.
Portugal were unfancied going into their semifinal against Germany and their chances seemed to recede after Florian Wirtz's 48th-minute opener.
But they responded superbly with two goals in the next 20 minutes and ran out worthy winners against an opponent backed by the vast majority of the 65,823 crowd.
Portugal's strength-in-depth was demonstrated with Vitinha and Francisco Conceicao coming off the bench to play important roles in the fightback.
Roberto Martinez's side appears ready to deliver another big performance and look overpriced to get their hands on the trophy.
While Spain will be looking to a talented teenager in Yamal to provide a moment of magic, Portugal are set to rely on their 40-year-old superstar Cristiano Ronaldo, who is simply refusing to exit center stage.
Ronaldo was well into his thirties by the time he helped Portugal triumph at Euro 2016.
But he picked up another winner's medal in the 2018/19 Nations League and is getting ready to play a captain's role in Munich.
When Ronaldo took the decision to join Saudi Pro-League side Al-Nassr in January 2023 it seemed that his career was coming to an end.
However, he has been Portugal's main man in the Nations League and sits top of the competition's scoring charts with seven goals.
Ronaldo bagged his 137th international goal on Thursday with the winning strike against Germany and he poses an obvious danger against a defensively suspect Spain side who have conceded at least two goals in each of their last four fixtures.
The paths of Spain and Portugal last crossed during the group stage of the 2022/23 Nations League when they were involved in a pair of tight, hotly contested affairs.
Spain took four points over the two games - a 1-1 draw in Seville and a 1-0 success in Braga - which generated a total of 13 yellow cards.
And there are likely to be more cards than goals in Munich, including a probable caution for Portugal attacking midfielder Bruno Fernandes.
The 30-year-old from Manchester United collected six Premier League cards this season and his suspect temperament could be on display in the Bavarian capital.
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Portugal | +280 |
Tie | +275 |
Spain | -110 |
Cristiano Ronaldo | +150 |
Lamine Yamal | +150 |
Mikel Oyarzabal | +187.5 |
Nico Williams | +240 |
Diogo Jota | +300 |
Bruno Fernandes | +333.3 |
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This article was written by a partner sports writer via Spotlight Sports Group. All odds displayed on this page were correct at the time of writing and are subject to withdrawal or change at any time.