At the first game ever played at Pirates Park, the new home of the Bristol Pirates, United took the lead through Ian Parker, who was making his début in for the Boys in Black.
The former Middlesbrough Monsters man latched onto a brilliant Kevin Warhurst cross before slashing the ball past Knights keeper Mehdi Kaziri after 24 minutes.
United had some chances where it could have been 2-0, including an overhead kick from Edward Redwood, playing left winger, which smacked the crossbar.
The Knights had their first shot on target after 71 minutes, Austrian Peter Pfertzl, a half-time sub for the unimpressive Pole in Marcin Kristianski, shooting straight at Simon Herding.
Right until the end, the Knights never really looked like getting back into the game, and United fans were already singing when Danny Basingstoke took a stoppage time corner which even Kaziri came up for. A few Knights fans were already heading for the exits. Even the trophy was on its way with black and red ribbons around it. But little did the United fans know that the game was far from over.
Basingstoke whipped in a corner which fell to Kaziri but it was cleared by John Macdonald before Hugo Watson took a shot which seem to go well wide before Brian Nixon tapped it into the goal. Players in white all had their hands claiming he was offside, but little did they know, he was inches on.
The fans who were leaving returned as soon as when they heard the roar from the Knights crowd.
And there was still time as Nixon's cross came off Mark Strickland for another corner. 'Baz' swung it in again, which fell to Nixon before unselfishly passing for Hugo Watson who tapped it home, sending the Knights players, staff and fans into ecstasy, while the United players, staff and fans suddenly felt agony.
Ex-United striker Watson himself could not believe his eyes, while United skipper Strickland looked completely shell-shocked.
United defenders Mark Strickland and John Macdonald had a right cry from the final whistle to long after they received their losers medals, as they clearly felt robbed and victory was stolen from them right at the last second, while triumphant captain Adam Gaffney ran the full length of the pitch as he celebrated the first title he ever won.
Striker Edward Redwood, on the winning side last year for FC London, now found himself on the losing end for London United, as he too burst into tears after jumping up and down the year previously. He was consoled by Strickland, who like it says above, also had tears streaming down his eyes.
Also on that FCL winners last year on the LUFC losers this year were: Simon Herding, Dean Whitley (who did not play), Kevin Warhurst, Lionel Nunez and Neil Boyle. United boss Bobby Hutchinson was the manager of FC London at the time.
The agony felt by the London United players can only be compared to Bayern Munich's after losing the 1999 European Cup final to Manchester United.
Like the game today, Bayern were leading 1-0 approaching the end of the game. But Man Utd scored two last-ditch goals, to break the hearts of Bayern in the cruelest way possible.
Interestingly enough, no United player from the 2007 final was involved in this year's final, as they have somewhat most of them have either been traded, retired or was an unused substitute/reserve.
It was Adam Gaffney who lifted the Canon Cup trophy aloft for the underdogs, with blue and red ribbons around it, when minutes before the end, it was looking like Mark Strickland who was to do the honour, with black and red ribbons.
It was the first British competition that the Knights' Swedish manager Niklas Erlingmark ever won.
East Anglia Knights: Kaziri; Easton, Davies, Gaffney, Skinner; Basingstoke, Preston, Kristianski (Pfertzl 46), Smith; Nixon, Brickman (Watson 81).
Subs Not Used: Goodfield, Hartmann, James.
Booked: Kristianski, Pferzl.
Goals: Nixon 90, Watson 90.
London United: Herding; Mitchell, Macdonald, Strickland, Turpijn (Reid 87); Parker, Warhurst, Croussant (Cohen 81), Redwood; Boyle, Nunez.
Subs Not Used: Da Silva, Sammy Stockwell, Adam Stockwell.
Booked: Redwood, Strickland, Macdonald, Mitchell.
Goals: Parker 24.
Canon Man of the Match: Hugo Watson (East Anglia Knights).