The dream is over for another year, Manchester United paying the ultimate Champions' League price for the injury crisis that stretched even Europe's wealthiest club to breaking point.

But even as the pain of defeat seeped in, as Alex Ferguson saw his hopes of emulating Sir Matt Busby 30 years ago drift away, United knew they could have given no more.

Rocked by a tracer-bullet strike from Argentinian-born David Trezeguet after just five minutes, and missing Ryan Giggs in addition to Peter Schmeichel, lesser sides might have wilted.

Yet somewhere, from deep within their souls, United summoned up the strength of will to drag themselves back into the contest, David Beckham proving he does have the desire to take on the best.

When Ole Solskjaer slid in to convert Beckham's low centre eight minutes into the second period - as Monaco waited for a spot-kick - it looked as if the unlikely could come true.

But just like Aston Villa last night, that extra, killer goal was a bridge too far, weary legs eventually giving out, not even United's determination and will-power enough.

Monaco, a team built in the classy image of coach Jean Tigana, had that little bit extra, Raimond Van Der Gouw excellent in Schmeichel's stead.

As the final whistle went on another failed European campaign the United fans, and perhaps Ferguson himself, were poised to reflect on whether more ambition in Monaco might have brought the jackpot.

The reality, as had seemed likely, was that they lacked that extra bit of quality. Without Giggs, United did have Nicky Butt, Phil Neville and Ronny Johnsen fit.

But Solskjaer is hardly a natural left-winger, and United were already without the spine of the side, missing Schmeichel, Gary Pallister and Roy Keane.

Ferguson had preached the need for patience and discipline, but in his worst nightmares he could not have imagined the way the game would start.

Tigana had suggested the return to his side of Trezeguet could be crucial, the speedster missed badly in the first leg, and United were not even given a warning shot before the striker pounced in the fifth minute.

Gary Neville's off-balance clearance was nodded straight back and Algerian Benarbia beat Johnsen to the touch, knocking into space inside skipper Denis Irwin.

Trezeguet, so little, so graceful, was away like a flash, one touch to control and then a second, as Neville tried to make amends, that flashed into the top corner.

Not even Schmeichel would have saved it, and Raimond Van der Gouw could not be blamed, but a shellshocked Old Trafford was silenced as Trezeguet celebrated by the corner flag.

It was a body blow, two minutes earlier than the one Dortmund's Lars Ricken had inflicted last year, and for a while United could not respond.

Monaco's excellent movement left them flat-footed, with Benarbia doing more in the first quarter of an hour than he had in the whole of the first match.

United had no outlets, Teddy Sheringham again blotted out by Martin Djetou, Andy Cole getting no change from Mohamed Konjic, and Phil Neville had to move smartly to head off Trezeguet after Benarbia had found him again.

Ferguson's team were crying out for somebody to rise to the task, and David Beckham almost did in the 18th minute, drifting wide from his central role to send in a cross which Solskjaer unaccountably ducked under.

A chance wasted and a minute later it could have been over, Nigerian Victor Ikpeba heading at Van Der Gouw when he should have scored, before Johnsen's interception just prevented Trezeguet pouncing from Benarbia again.

Butt's booking for a poor challenge on Djibril Diawara summed up United's frustrations, but at last they began to make some impression.

Clever work on the left by Cole was finished when Irwin fed Beckham for a 25-yarder that flew over and, after Gary Neville reluctantly made way for Henning Berg, Beckham was so close.

Konjic's tackle on Cole was rightly penalised, and Beckham stepped up to stroke the free-kick over the wall and arcing beyond Fabien Barthez but a fraction wide.

Still, it was what United needed, and with John Collins having to restrain himself after a booking that rules him out of the semi-final, they could force the pace.

Beckham's searching cross towards Cole saw Konjic head over his own bar, Sheringham appealed in vain for a spot kick against Djetou and Solskjaer failed to hit the target from Butt.

It left United with 45 minutes to score two, a task that seemed far beyond them, especially when Paul Scholes' knee problem forced him off at the break, Michael Clegg coming on and Neville pushed into midfield.

Old Trafford tried to raise its heroes, but it seemed somehow half-hearted. Then suddenly, all changed, as United level after 53 minutes.

Butt, seizing on a loose ball, fell under Franck Dumas' challenge, and German referee Hellmut Krug, whistle in mouth, pointed to the spot.

Yet without blowing, playing the advantage as Monaco accepted the inevitable, and when the ball ran to the right, Beckham crossed low for Solskjaer to slide home his first goal of the European campaign.

Now it was game on, nothing in it, one more enough, and United surged forward, Beckham firing over after a move that was the real thing.

Even so, Monaco were in the box seat still, and Collins, taking advantage of Djetou's stealthy advance, thought he had done the job with the cutest of lobs that brought a magnificent stop from Van Der Gouw, a save Schmeichel himself would have been proud of.

Ikpeba made way for Thierry Henry, the competition's six goal top scorer, on the hour, Monaco expecting more space for the counter as United had to press, even if Benarbia was replaced by Stephane Carnot.

Time was running out, although a flap by Barthez brought new hope, before Beckham's cross reached Solskjaer inside the six yard box. But when he needed sureness, his touch was poor and Konjic's desperate tackle saved the day.

Van Der Gouw rose to the task again to foil Henry with 10 minutes left, keeping United in it, with Barthez just too quick for Solskjaer as Sheringham tried to slide him in with five minutes left.

United strained every sinew, Berg, socks around his ankles, playing up front, Johnsen also thundering forward for the last hand, Barthez tipping over from Beckham.

Two minutes into stoppage time, Beckham was handed his final chance, lacking conviction when he needed it one last time.

It was all over again, no glory, just sheer dejection. As against Rotor Volgograd two years ago, 0-0 was the most dangerous of results. Will it ever happen?

Teams

Man Utd: Van Der Gouw, G. Neville (Berg 32), Irwin, Johnsen, Beckham, Butt, Cole, Sheringham, P. Neville, Scholes (Clegg 46), Solskjaer.

Subs Not Used: Pilkington, May, McClair, Thornley, Curtis.

Booked: Butt, Solskjaer.

Goals: Solskjaer 53.

AS Monaco: Barthez, Djetou, Dumas, Diawara, Collins, Benarbia (Carnot 66), Trezeguet, Leonard, Sagnol, Konjic (Da Costa 74), Ikpeba Nosa (Henry 60). Subs Not Used: Porato, Pignol, Spehar, Cristanval.

Booked: Collins, Da Costa.

Goals: Trezeguet 6.

Agg (1-1)

Att: 53,683

Ref: Helmut Krug (Germany).