Host nation Brazil and the Netherlands will meet later today in the 2014 FIFA World Cup third-place playoff with shared disappointment.

The two semifinal losers will bid the soccer tournament farewell as they fight for their pride and third place. It's a game Brazilians think they must win in an effort to shake off their miserable defeat against Germany whereas the Dutch "are looking to get the most out of the competition which they sought to win since the first day," The Independent reported.

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The Selecao's are still reeling from their humiliating 7-1 defeat to Germany last Tuesday. The thrashing marked Brazil's biggest World Cup defeat and the teams first competitive loss at home in 39 years. In the match, the team also became the first ever to concede five or more goals by half-time in a World Cup semi-final match, The Independent reported.

The Dutch, on the other hand, "will feel the anguish of coming as close as a penalty shootout to besting Argentina and reaching the final," The Bleacher Report reported.

Despite their humiliating defeat to Germany, Brazil is a narrow favorite. However, both teams have enough motivation to want to finish football's major international competition with a flourish.

This is the second time the Dutch team has been involved in the third-place play-off. In 1998, they lost 2-1 to Croatia after losing to Brazil on penalties in the semi-final. This is Brazil's fourth time involved in the third-place play-off. They have two wins (1938 and 1978) and one defeat (1974) from the previous three.

The match for third place, which was first introduced at the 1934 World Cup, "was originally envisaged as a match to whet the appetite ahead of the final," BBC Sports reported.

However, Dutch coach Louis van Gaal has made it clear that he believes the fixture is irrelevant.

"There is only one award that counts and that is becoming world champions," van Gaal said. "The worst thing is that there is a chance you are going to lose twice in a row and in a tournament in which you have played so marvelously well you go home as a loser."