A multi-speed transmission for a vehicle is provided with a selectable one-way braking clutch (SOWBC). The transmission has an input member connected for common rotation with one of the members of four planetary gear sets and an output member connected for common rotation with another of the members of the planetary gear sets. Four interconnecting members connect different members of the planetary gear sets for common rotation. A first brake is selectively engagable to ground the first member of the first planetary gear set to the stationary member. A first, a second, and a third rotating clutch are each selectively engagable to connect a different respective pair of the members of the planetary gear sets for common rotation. A selectable one-way braking clutch is configured to brake in one rotational direction and is selectively reversible to brake in an opposite rotational direction, and freewheels in some speed ratios.