Real Madrid president Florentino Perez has paid tribute to beaten Champions League finalists Atletico Madrid.

Los Blancos defeated their city rivals in a final that needed penalties to determine a winner, their 11th Champions League trophy in the history of the club.

"I feel very proud to be part of Real Madrid, its fans, its history and these magnificent players," Perez said.

"Atletico Madrid are our neighbours and friends and they have shown the level they are on, and you feel for them because of the effort they have made."

"But I am sure they will win it [the Champions League] in the future."