Arsenal travelled to Olympiacos this evening knowing that they could still top Group B of this year's Champions League.
The Gunners simply had to better Schalke's result in Montpellier to perhaps ensure a more favourable draw for the last 16 but they were downed 2-1 by the Greek leaders in Athens.
Arsene Wenger's men took the lead through Tomas Rosicky but were pegged back in the second half by Giannis Maniatis before subsitute Kostas Mitroglou scored with virtually his first touch.
Read our minute-by-minute coverage below.
Evening folks! Let's get straight to the team news...
Szczesny; Jenkinson, Squillaci, Vermaelen, Meade; Rosicky, Coquelin; Oxlade-Chamberlain, Ramsey, Gervinho; Chamakh
Carroll, Maniatis, Machado, Conteras, Manolas, Torossidis, Fejsa, Diakité, Greco, Abdoun, Djebbour
"Who is Meade at left-back for Arsenal?" I hear you ask. Well, he is Jernade Meade. A 20-year-old left-back is making his first Arsenal start tonight.
Elsewhere for the visitors, Marouane Chamakh leads the line, with Sebastian Squillaci getting a rare game alongside Thomas Vermaelen at centre-back.
Don't be surprised if the Gunners fail to keep a clean sheet tonight though. They have kept out their opponents just once in their last 22 Champions League matches away from home.
More bad omens for the Gunners: They have played away at Olympiacos twice before, both times on matchday six and lost both games.
However, Arsenal's qualification means they have now qualified for the last 16 of the Champions League 13 seasons in a row. Only Real Madrid have managed a longer run in the history of the competition.
Will they be able to top the group though? Wenger has clearly selected a weaker XI and it's a nothing game for Olympiacos as they have guaranteed third place and a spot in the Europa League. The Greek side cannot catch Arsenal in second place while Montpellier are rooted to the bottom of the table.
As always on these European group nights, there are seven other matches taking place and I'll do my best to keep you informed as all the important goals go in.
From an English perspective, Manchester City travel to Borussia Dortmund already knowing that they're out of the competition. However, Roberto Mancini's men can still qualify for the Europa League if they beat the Germans and Ajax are downed by Real Madrid.
In Group A, there's a huge match in the French capital between Paris Saint-Germain and Porto. The Portuguese side currently lead the way on 13 points, with PSG just a point adrift. That means the galacticos of Ligue 1 have to beat Porto to snatch first place.
Back to the game in the Greek capital. Let's take a look at Arsenal's opponents...
Perhaps the only familiar name to fans of the Premier League is former Manchester United stopper Roy Carroll. He is between the sticks for the Greek side.
The home side have lost just three times in all competitions this season and are a mighty 10 points clear in the Greek top flight.
Their top scorer in this year's Champions League, Kostas Mitroglou, has been dropped to the bench tonight. The hosts will look to frontman Rafik Djebbour to get on the scoresheet.
Although Marouane Chamakh is hardly a crowd favourite with the Gunners, he did score the winner for Bordeaux against Olympiacos in the last-16 stage two years ago.
Tonight's man in charge is Roberto Diaz Perez del Palomar from Spain. I'll probably just refer to him as 'the ref'!
10 minutes until kickoff.
Time for me to point you in the direction of our other live commentaries this evening...
Click here for Real Madrid vs. Ajax, here for Dortmund vs. City and here for Zenit St Petersburg against AC Milan.
Arsene Wenger tells ITV Sport: "We want always to give our best and that is what the players will try to do.
"It is a big incentive to do your job well and for us to do our job well we need to finish top of the group.
"Never expect your opponent to give you an easy game, especially in Greece."
"It is a big incentive to do your job well and for us to do our job well we need to finish top of the group.
"Never expect your opponent to give you an easy game, especially in Greece."
Arsenal get us underway.
Arsenal are the first to venture forward and it results in a sliced shot from Gervinho. Encouraging start from the visitors.
Arsenal are playing in their purple tops and black shorts while the hosts are sporting their home strip of red-and-white stripe tops and red shorts.
First Olympiacos shot comes from Abdoun but it's blocked on its way through and dribbles to Szczesny.
CHANCE! Arsenal break clear and Gervinho feeds Chamakh but he's dispossessed before shooting. The Gunners get the ball back and find Oxlade-Chamberlain but his cross-shot fizzes through an empty penalty area.
Squillaci gives away a needless corner by heading out.
CHANCE! Abdoun is given plenty of space to break into the area and he looks to find Djebbour with a cutback but Vermaelen does superbly to clear it out.
Goal in Madrid! Real have taken the lead against Ajax and it's that man Cristiano Ronaldo.
Rosicky appears to be hauled down on the edge of the area but referee Del Palomar says no.
Strange scenes in Zagreb as the referee takes the players off the pitch because of heavy snow.
CHANCE! What a chance for Arsenal. Oxlade-Chamberlain's cross to the back post is headed back across goal by Chamakh. The ball eventually breaks loose for Ramsey but his left-foot shot is completely fluffed and Olympiacos clear.
OFF THE LINE! An Olympiacos corner finds Torosidis at the back post and his header is hacked away by Coquelin.
Click here to read more about the snowfall in the Croatian capital.
CHANCE! Abdoun makes a clever run and then is found with time to shoot but Szczesny beats away. From the resulting corner Djebbour flicks a header goalwards and it's held by Szczesny.
Goal in Madrid and Real have doubled their lead. Jose Callejon collects a fabulous Luka Modric pass, controls and volleys in off the post.
Goal in Paris! PSG have the lead in the crucial Group A clash as Thiago Silva heads home.
Ramsey dilly-dallies in the box when he should have found one of a number of teammates waiting for a pass.
The impressive Abdoun squeezes a cross through a dangerous area but there's no red-and-white shirts there to tap home.
Goals in Italy and France! Porto level in Paris almost instantly through Jackson Martinez while Zenit have the lead against AC Milan, Danny the scorer.
Gervinho breaks clear and should feed Chamakh but he holds on for too long and is dispossessed by Manolas. Arsenal have been very wasteful in the attacking third so far.
GOAL! ARSENAL LEAD! ROSICKY!
The Gunners pressure finally pays off as Gervinho gets to the byline, cuts back and then squares to the onrushing Rosicky. The Czech midfielder takes it on first time and finds the far corner of Carroll's net.
Olympiacos almost equalise straight away as Paulo Machado is found in acres of room in the area but he can't quite pick out a teammate in the box.
Olympiacos 0-1 Arsenal
The Gunners hold a slender lead thanks to Rosicky's crisp 38th-minute finish. Wenger's men have had the better of the chances but don't bet against them conceding. As it stands, Arsenal will go through as group winners because Schalke are being held 0-0 in Montpellier.
Click here to read my colleague Liam Power's half-time report of the action in Athens.
Half-time substitution for Arsenal and Andrey Arshavin is on for goalscorer Rosicky. I presume there's an injury of some sort.
The second half is underway.
Goal in Madrid! Real have gone three up against Ajax through Kaka. The Brazilian drives at the Dutch defence and curls home a gem with his left.
Arsenal break down the right through Chamakh. The Moroccan picks out an unmarked Arshavin at the back post but the little Russian can't leap high enough to keep his header down.
Booking for Coquelin for a trip on Greco.
Chance of an opening for the hosts but Abdoun overhits his pass to Greco.
GOAL for Schalke! Benedikt Howedes scores for the Germans in Montpellier and that means that Arsenal cannot top the group as things stand.
Sub for Olympiacos as David Fuster replaces Fejsa.
Goals in Dortmund and Madrid! Borussia have the lead against City while Ajax have pulled one back against Madrid.
CHANCE! Arsenal outnumber the hosts and eventually Arshavin is found with time to take a touch and lash goalwards. Carroll makes a cracking save to keep it out.
GOAL for Montpellier! The French side equalise and that's great news for Arsenal.
GOAL! OLYMPIACOS EQUALISE! MANIATIS!
Out of nowhere, Olympiacos are level. Some hesitant defending from the Gunners allows Maniatis to poke home from just a couple of yards out.
Silly, silly goal for the Gunners to give away. Ramsey tried to chest down inside the six-yard box but presented it straight to Maniatis.
With both games in Group B at 1-1, Schalke are now on course to top the group.
WHAT A MISS! Djebbour is picked out at the back post and all he has to do is get his diving header on target but he somehow nods wide.
Change for Olympiacos as Abdoun comes off for goal machine Kostas Mitroglou, who has netted three times in this year's competition.
With so many goals going in I forgot to mention that PSG have retaken the lead against Porto and are now headed for top spot in Group A.
GOAL! OLYMPIACOS TAKE THE LEAD! MITROGLOU STRAIGHT AWAY!
What an impact! The Greek international turns inside and unleashes a curling effort that fizzes once off the turf into the far corner. Szczesny seemed unsure of fully diving for it and has ultimately paid the price.
I mentioned beforehand that it seemed strange for Leonardo Jardim to leave his star man on the bench and Mitroglou has shown instantly what he's all about. Fab goal.
Gervinho goes down under challenge and wants a penalty but referee Del Palomar isn't interested.
Final substitution for Olympiacos as Ariel Ibagaza comes on for Djebbour.
Oxlade-Chamberlain receives the ball in the box and drives to the touchline before crossing but no-one's there.
Substitution for the Gunners and young Meade is replaced by the even younger Martin Angha.
No late goals in any of the other games yet.
Just as I say that, Real Madrid regain their three-goal advantage over Ajax as Callejon heads in his second.
Two minutes added on.
Late caution for Chamakh for a deliberate handball.
Olympiacos 2-1 Arsenal
A disappointing end to the group stage for Arsenal then. A win tonight would have seen them top Group B because Schalke could only manage a draw in Montpellier.
Click here to read our full match report on tonight's game in Athens.
Thanks for joining Sports Mole this evening. Make sure you stay on the site throughout the night for plenty of reaction to the evening's matches. We'll see you tomorrow for another night of Champions League action. Good night.
