The UEFA Cup, as it is known now, was once known as the Inter-Cities Fairs Cup - the name was changed for the 1971/72 season. The first tournament began in 1955, but in those days, when it started, the tournament was not annual - rather it lasted for three years, and so the first tournament which began in 1955 was to last until 1958.
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The first season was 1992/93 - there were two knockout rounds, before the eight remaining clubs were put into two groups of four. The group winners went straight into the final.
Arsenal have never ever won the U.e.F.A. cup though they lost to Barcelona in the final of 2006.
1968... Manchester United beat Benfica in the European Cup Final played at Wembley Stadium (London, UK)