We present in this article a detailed study of the photophysics of the Ru(bpy)(3)(2+) complex based on a formalism using density functional theory and an a posteriori treatment of the spin-orbit coupling. The absorption and emission spectra were computed and a very good agreement was obtained with the available experimental data. This work also reveals for the first time that the triplet metal-centered (MC) dd state cannot deactivate radiatively and corresponds to a transient structure for the nonradiative de-excitation of the triplet metal-to-ligand charge transfer (MLCT) state. Thus, a competition takes place between the luminescence of the MLCT state and nonradiative decay back to the ground state via population of the MC state. This radiationless return to the ground state occurs via a deactivation funnel which has been characterized for the first time by optimizing the minimum energy crossing point between the triplet MC and singlet ground state potential energy surfaces. Its low-lying energy position relative to the energy necessary to access the MC minimum suggests that this funnel will be readily accessible.