Following five withdrawals, the tournament featured three Eastern Bloc teams and four from Asia. The other sides included in the draw were the United States, the United Team of Germany (which was de facto West Germany), Great Britain and the hosts Australia, competing in their first Olympic football tournament.
The tendency of Eastern bloc countries to provide state-funding for their athletes put Western amateurs at a significant disadvantage. As a result, all Olympic football tournaments 1952 onwards were dominated by the Soviet Union and its satellites.[4][5]
Byes: Bulgaria (drawn against Egypt, who withdrew), India (drawn against Hungary, who withdrew), Indonesia (drawn against South Vietnam, who withdrew), United States and Yugoslavia (drawn against each other: match was postponed to the quarter-finals).
Bulgaria led Great Britain 3–1 at half-time, when ratings from HMS Newcastle vaulted the fence and exhorted the team to show more grit, after which they were peacefully escorted off the field. The British team went on to lose 6–1.[6]
The Indians defeated Australia 4–2 with a hat trick by centre forward Neville D'Souza, the first by an Asian in the Olympics. Prior to the game there had been debate, once again, as to whether the Indians should be shod. Sir Stanley Rous respected their decision either way, although in the end, the Indians decided to wear boots. The Indonesian referee disallowed two first half goals. Bob Bignall the Australian captain was unable to get an intelligible reply out of him during the break.
Yugoslavia defeated India 4–1. It would be their third consecutive Olympic final, after losing both in 1948 and 1952.
The Soviets defeated Bulgaria 2–1. Normal time finished 0–0, and Bulgaria scored first in extra time before conceding two goals in the last six minutes of the game.