The Volvo Masters finally found itself with one champion rather than two when Swede Fredrik Jacobson - or Houdini as he is now known - beat Spain's Carlos Rodiles at the fourth hole of a play-off at Valderrama.
They had time for four holes because the final round was brought forward compared to last year - and they needed all of them to settle a seesaw affair in which Rodiles, two ahead with one hole to play in regulation, missed three putts for victory.
Jacobson, twice chipping and putting and then inches from driving in the lake on the third extra hole, eventually sealed the £406,703 first prize with a par on their fifth playing of the 18th in the day.
It made him the only European player to win three times this season and it denied Rodiles the first success of his career.
One behind with two to play, Rodiles seemed to have one hand on the trophy when he birdied the infamous 17th while Jacobson took a double-bogey seven after his pitch rolled back into the lake.
But on the last the Malaga golfer hit trees with his first and second shots, bogeyed and saw Jacobson force sudden death with a brilliant approach to two feet.
Rodiles had a seven-foot birdie chance on the first extra hole but missed it, and Jacobson saved par from behind a tree off the tee and just over the green in two.
Back they went to the 18th again - and Jacobson, again missing the green, chipped to four feet and made it after Rodiles had failed with his 25-foot attempt.
They were asked to switch to the 10th hole at that point, and Jacobson had an incredible escape when he carved his drive which finished inches from the lake. If he had been left-handed he would have been doomed. But he found the green, parred - and Rodiles this time missed an 18-footer.
It meant they were back on the 18th for the fifth time in the day - it began with them completing their third rounds - and Rodiles had no way out of the trees this time and bogeyed.
They had tied on the 12-under-par total of 276, both returning final rounds of 70 to finish three clear of Brian Davis (66) and six ahead of another Englishman, John Bickerton.
Montgomerie, the only one of the defending champions playing in the event, finished joint 10th on level par after also taking seven on the 17th. But he went out of bounds from a bunker rather than finding the water.
It is the first time since 1992 the seven-time Order of Merit winner has not had a win on the circuit and the first time since 1989 his name does not appear in the top 20 on the final money list.
He could appear in the tour dock, however, after storming off a green in the third round while playing partners Thomas Bjorn and Davis were still to putt. In the week new rules on etiquette were unveiled, Montgomerie threw his ball on to a cart path and was nearly 100 yards away when the pair holed out.
Darren Clarke, runner-up to Ernie Els on the Order of Merit, was one stroke further back - and as he headed away he was looking good for a place in this week's Tour Championship in Houston.
He had to wait for the results of the final round of the Chrysler Championship in Florida, however, before deciding his travel plans.
Padraig Harrington was next best of the Irish a stroke further back but there was little joy for Paul McGinley, Gary Murphy and Peter Lawrie who finished well down the pecking order.