Atletico Madrid stunned city rivals Real to win their 10th King's Cup. Miranda's extra-time header secured a 2-1 comeback win in an action-packed and ill-tempered clash at the Bernabeu on Friday in which Real coach Jose Mourinho and Cristiano Ronaldo were both sent off.
Atletico's jubilant fans spilled onto the streets of the Spanish capital to celebrate their first victory over their bitter city rivals in 14 years, while the Real faithful were left to reflect on a season without major silverware and the possible departure of Mourinho at the end of the campaign.
Diego Costa levelled 10 minutes before the break and after Mourinho was dismissed for furiously protesting a referee's decision with around 15 minutes of regular time left Miranda glanced a 99th-minute header past Diego Lopez to secure a first win against Real since 1999.
The match, in which Real hit the post three times, descended into chaos near the end when a mass brawl between substitutes and technical staff erupted on the side of the pitch as Ronaldo received his marching orders.
Play was further interrupted moments later when Atletico goalkeeper Thibaut Courtois was hit by an object thrown from the crowd and Gabi was shown a second yellow card in the dying seconds for time wasting.
After five minutes of nerve-wrenching extra-time, the referee finally blew the whistle, sending the red and white-clad Atletico fans into raptures while the white half of Real's own stadium was left in mute shock.
The King's Cup does not carry the same prestige as La Liga or a European title but the Atletico fans' euphoria also reflected the fact that they had got the better of their city neighbours after more than a decade of disappointment.
"This team has worked extremely hard for this match," Gabi told Spanish television as his team mates celebrated wildly and showered each other with champagne nearby.
"This victory tastes of glory and is for all those who have suffered for 14 years," he added.
There was a party atmosphere on the streets of Madrid throughout the day despite the unusually chilly temperatures and it spilled over into the stadium, with the Atletico fans in particularly fine voice before kickoff.
After Ronaldo's opener and Costa's equaliser, Ozil struck a fierce shot against the post two minutes before the break and Karim Benzema was denied by the frame of the goal on the hour before Juanfran cleared Ozil's follow-up shot off the line.
There were further signs that it was not going to be Real's night when Ronaldo blasted a low free kick against the post in the 69th minute and Michael Essien hammered the rebound over.
Centre back Miranda nodded Koke's cross into the net to put Atletico ahead for the first time and Courtois conjured two stunning reflex saves to deny substitute Gonzalo Higuain and Ozil late into extra time.
"The team won with the hearts of each one of the players," coach Diego Simeone told a news conference.
"They lost their fear, as well as having the luck that you need," added the Argentine, who was playing for Atletico when they last won the Cup in 1996.
"Accepting in the buildup that they are better than us and play better made us stronger.
"We responded in extra time better than anyone. These feelings we have today are special."
It was Real's first home defeat in 44 matches and follows their reverse in the Champions League semi-finals to Borussia Dortmund and Barcelona's fourth La Liga title in five years secured at the weekend.
Real were denied a 19th King's Cup triumph -- Barca hold the most titles with 26 -- and they have now lost 20 of the 38 domestic Cup finals in which they have featured, including six of eight played at their own stadium.
Mourinho, widely expected to return to Chelsea at the end of the season, told his post-match news conference Atletico had not deserved to win.
"It is not normal to hit the post three times," the Portuguese said, after a robust defence of his record at Real since joining from Inter Milan in 2010.
"You don't have to be a magician to tell that the result of the final was not fair, that Atletico is not a just winner.
"In football everything is forgotten, you forget the refereeing, the posts. Only the winner remains and that is Atletico."
Image: Atletico Madrid's players celebrate after winning the Spanish King's Cup
Photograph: Denis Doyle/Getty Images