A transmission is disclosed having an input member, an output member, and first, second, third and fourth planetary gear sets each having first, second and third members. A plurality of interconnecting members continuously interconnect one of the first, second and third members of one of the planetary gear sets with one of the first, second and third members of another of the planetary gear sets. Five torque-transmitting mechanisms are selectively engageable in combinations of at least three to establish at least eight forward speed ratios and at least one reverse speed ratio between the input member and the output member. The first of the five torque-transmitting mechanisms is a selectable one-way clutch engageable to interconnect the third member of the first planetary gear set with the stationary member.