Nicky Hayden snatched the MotoGP crown from the grasp of five-time champion Valentino Rossi following a dramatic final race in Valencia on Sunday. Rossi led the standings by eight points before the race but saw his hopes end after sliding out on lap five. He got back on his Yamaha and finished 13th but American Hayden, 25, came home in third to take the title for Honda. Australia's World Superbike champion Troy Bayliss, riding in place of the injured Sete Gibernau, won for Ducati. Hayden's title chances looked over just a fortnight ago when he crashed out of the Portuguese MotoGP after being hit by team- mate Dani Pedrosa. But the 'Kentucky Kid' bounced back to become the first American to win the premier class title since Kenny Roberts Jr in 2000. "I'm just real, really proud," said an emotional Hayden after the race. "You dream about being world champion and dedicate your whole life to it, so when it comes true it is very special. "I may not always have been the fastest but every race I've tried my hardest." Hayden enjoyed a 51-point advantage over Rossi, 27, in the standings after his victory in the US Grand Prix in Laguna Seca in July. But the Italian clawed his way back into contention before taking over the lead at Estoril following Hayden's mishap. After Sunday's dramatic decider, a philosophical Rossi said: "It was a difficult race and we had some problems. "I made a mistake off the start and another on the slide. I don't understand why I slid but when you crash it is always a mistake. "It's a big emotion this year, positive and negative. We were able to gain 51 points from (the Czech GP in) Brno to arrive in front at the last race but unfortunately we lost. "We did a lot of incredible victories but in life it is always possible to lose." Rossi was quick to praise Hayden, a former teammate of his at Honda in the 2003 season. "Great congratulations to Nicky, he did a great job. He's a good guy and a great rider. He won, he's the best and I'm very happy for him." British rider James Ellison finished the race 14th on the Tech 3 Yamaha to end the season in 18th position. Spaniard Jorge Lorenzo won the 250cc title by finishing fourth on the Fortuna Aprilia in Valencia. The race was won by San Marino's Alex de Angelis on the Master Aspar Aprilia as Lorenzo finished the season 17 points ahead of Italy's Andrea Dovizioso. Britain's Chaz Davies was 21st in a wild- card ride on the Grillini Honda as fellow countryman Dan Linfoot failed to finish on the Winona Honda. Hector Faubel won the 125cc race as his Master Aspar Aprilia team-mate and fellow Spaniard Alvaro Bautista, who was already world champion, finished fourth. Britain's Bradley Smith was 12th on the Repsol Honda to finish his debut season in 19th.