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Crusaders beat Derry City 5-4 in a penalty shoot-out after a dramatic Setanta Sports Cup final ended in a 2-2 draw after extra-time at the Oval.

Rory Patterson smashed in the opener in the 80th minute but Colin Coates levelled with an 85th-minute header.

Stephen McBride was sent-off in added time before Coates gave the Crues the lead again in extra-time, but Patterson scored from the spot to equalise.

Gareth McKeown scored the winning penalty after three players had missed.

For Derry, Patterson, Ruaidhri Higgins, Barry Molloy and Patrick McEleney found the net with their spot-kicks but Owen Morrison and Dermot McCaffrey failed to convert.

Morrison missed the target while Sean O'Neill saved from McCaffrey.

Coates, Chris Morrow, Matthew Snoddy, Stuart Dallas and McKeown were successful with their penalties for the Crues, with only Ciaran Gargan being denied by Ger Doherty.

Both sides were taking part in the final for the first time and Crusaders were aiming to become the first Irish League side to lift the trophy since Linfield won the inaugural competition in 2005.

The Crues made two changes from the side which lost 4-1 to Linfield in last week's Irish Cup decider, with Paul Leeman and Aidan Watson coming in for McKeown and Davy McMaster.

Derry were missing several key players as Stewart Greacen, Kevin Deery and Mark Farren were all carrying injuries.

Brothers Shane and Patrick McEleney returned to the Derry line-up however.

The first chance of the game fell to Timmy Adamson in the fourth minute but Doherty saved the striker's left-foot shot with his left leg.

Crusaders continued to boss the early proceedings and Morrow saw his curling free-kick tipped onto the post by the fingertips of Doherty.

The Candystripes came into the game more as the half wore on and Stephen McLaughlin, Patterson and David McDaid all fired wide.

After the break, Rory Patterson's looping header cannoned off the bar as the Crues' defence looked on.

Stephen Baxter's side began to regain the upper hand and Morrow forced Doherty into another fine save with a rasping right-foot drive after good work by Dallas.

The ball fell to Declan Caddell from the rebound but the midfielder blasted over when well placed to score.

Dallas then fired in a corner and Adamson's goalbound header was pushed onto the bar by the highly impressive Doherty.

At the other end, McLaughlin skewed a shot wide of the post under pressure from left-back McBride.

David Rainey turned and unleashed a dipping shot from 25 yards but Doherty was again equal to the task as he pushed the ball over.

Leeman then poked the ball over from close range as the Premiership side continued to dominate.

Derry took the lead against the run of play in the 80th minute when Patterson smashed the ball past O'Neill after McDaid had shrugged off the challenge of McBride and laid the ball off to the striker.

Coates equalised with a strong 85th-minute header from a Caddell free-kick as referee Raymond Crangle waved away claims that Doherty had been fouled.

Morrow hit the sidenetting soon after as the 90 minutes came to a pulsating finish.

McBride was sent-off in the first minute of injury-time when he received a second yellow card for a reckless challenge on Simon Madden.

The first opportunity of overtime fell to Caddell but Ryan McBride produced a fabulous tackle as the midfielder was about to shoot on goal.

Coates scored his second of the game six minutes into extra-time when he fired home after his initial header from a corner had been blocked on the line.

Five minutes later Leeman was adjudged to have handled the ball inside the area and Patterson's penalty crept in at the post after O'Neill got a hand to it.

The match continued in frenetic fashion and Coates was denied a hat-trick when his header from a Dallas free-kick was tipped over.

With the game deadlocked following a very entertaining 120 minutes, the shoot-out went the way of the north Belfast side, who claimed their second trophy of the season and the winner's cheque for £40,000.