At the 1956 Olympic Games in Melbourne, the Hungarian water polo team faces off against the Russians in what will become known as one of the bloodiest matches in the sport's history.

Children of Glory will commemorate Hungary's heroic Revolution of 1956, and takes place in Budapest and at the Melbourne Olympic Games in October and November of that year. While Soviet tanks were destroying Hungary, the Hungarian water polo team was winning over the Soviets in the Olympic pool in Melbourne, in what has been described as the bloodiest water polo match in history.—Anonymous

In Budapest, the Hungarian Revolution of 1956 is beginning while the water polo team is training for the Melbourne Olympic Games. The player Karcsi Szabó meets the revolutionary student leader Viki Falk and they fall in love for each other. When the Soviet force withdraws Budapest, Karcsi decides to rejoin the team and travel to Melbourne to participate in the Olympic Games. However, a larger Soviet force returns and invades Budapest, killing thousands of Hungarians and suppressing the resistance. Meanwhile, Karcsi and his team dispute the "Blood in the Water" match against the Soviets.—Claudio Carvalho, Rio de Janeiro, Brazil