Beats Real Madrid on penalties; Ronaldo misses crucial kick MADRID — Bayern Munich beat Real Madrid 3-1 on penalties Wednesday to secure its place against Chelsea in the Champions League final. Four-time champion Bayern will become the first team to play the final at its home ground after Bastian Schweinsteiger beat goalkeeper Iker Casillas with the final spot kick for the Germans to reach its second final in three seasons. In the shootout, Manuel Neuer saved from Cristiano Ronaldo and Kaka to put Bayern on course before counterpart Iker Casillas denied Toni Kroos and Philipp Lahm to drag Madrid back into it. But after Xabi Alonso scored Madrid's first, Sergio Ramos sent his shot high over the bar and Schweinsteiger sent his shot straight down the middle to secure Bayern's place in the final at the Allianz Arena on May 19. Bayern's fourth victory in five semifinal meetings over Madrid capped an exciting second leg at the Santiago Bernabeu stadium which Madrid won 2-1 to level the aggregate score at 3-3 following Bayern's victory by the same margin last week. Ronaldo followed up a sixth-minute penalty with his 56th goal of the season in the 14th to put Madrid on course for the May 19 final, only for Arjen Robben to reply with a 27th-minute penalty. Chelsea awaits pay day Chelsea chief executive Ron Gourlay said the London club was due a big financial boost as a result of its “phenomenal” Champions League semifinal win over Barcelona. The Blues are set for the biggest television cash pay-out for reaching the final of at least £45 million ($73 million) after a dramatic 2-2 draw in Barcelona Tuesday, where it played most of the match with 10 men after captain John Terry was sent off. That result gave it a 3-2 aggregate win and a place in the final against Real Madrid. The £45m represents European football governing body UEFA's payments of TV cash alone and studies have shown the clubs can double that income from ticket sales, sponsorship and merchandise. Manchester United had previously held the record pay-out of Champions League television cash at £43.5m last season, but this year earned only £28m as a result of failing to qualify for the knockout stages. English clubs have topped Champions League television payments for several years as a result of the sums paid by commercial broadcasters Sky and ITV. However, with Chelsea currently outside the top four in the English Premier League it may have to win this season's Champions League final if it is to qualify for next term's tournament.