In one of the best games ever seen in European basketball, Panathinaikos lifted its fourth Euroleague trophy by edging defending champion CSKA Moscow 93-91 in a thrilling final at OAKA in the Greek capital. Panathinaikos captain Fragiskos Alvertis raised the trophy as the proud club celebrated its fourth Euroleague title – the most of any team in the Final Four era. Final Four MVP Dimitris Diamantidis was one of six Panathinaikos players to score in double digits with 15 points. Ramunas Siskauskas shined with 20 points and 5 assists, Dejan Tomasevic added 16 and Mike Batiste and Milos Vujanic had 12 each for Panathinaikos, backed by a sea of green fans in the stands. Newly crowned Euroleague MVP Theodoros Papaloukas did his best to carry the outgoing champs, scoring a career-high 23 points and dishing 8 assists, but it wasn't enough. Back-to-back triples by Trajan Langdon brought CSKA within 87-85 with 51.3 seconds remaining. Batiste stepped up with a turnaround jumper and free throws by Vujanic sealed a historical win for the Greens.

Unicaja capped its first Final Four appearance in style by edging Tau Ceramica 74-76 in the Third Place Game on Sunday at OAKA. Marcus Brown was the hero for Unicaja by hitting the game-winning layup with 1.2 seconds remaining. Marko Tusek paced the winners with 18 points on 5-for-6 three-point shooting. Brown and Tusek combined for 18 of Unicaja's 25 points in the decisive fourth quarter. Igor Rakocevic led Tau with 16 and Zoran Planinic added 15 off the bench. Tau controlled the game in the opening three quarters and had a double-digit lead, 61-51, after 30 minutes. Tusek and Brown brought Unicaja back to life, but Prigioni tied the game at 74-74 with 8.4 seconds to go. Unicaja chose to isolate Brown, who scored in penetration to win it for Unicaja.

CSKA Moscow earned the chance to defend the Euroleague title in the 2007 final by downing Unicaja 62-50 in the first semifinal of the 2007 Final Four at OAKA in the Greek capital. David Andersen, back in the Final Four after missing the 2006 event due to injury, led CSKA with 12 points and 9 rebounds. Theodoros Papaloukas scored 11 points, dished 4 assists and had 5 big steals and Trajan Langdon added 13 points for CSKA. Far from being intimidated in its first Final Four appearance, Unicaja put out a good effort and led the game with less than eight minutes remaining. CSKA answered with a 14-0 run to knock off Unicaja and seal the outcome. CSKA led 33-24 at halftime but Marcus Brown, Carlos Cabezas and a three-pointer by Marko Tusek gave Unicaja a 46-47 edge. However Langdon and Andersen stepped up for CSKA and outstanding team defense did the rest for the defending champions. Unicaja, playing without injured center Daniel Santiago, was led by 13 points from Cabezas.

Panathinaikos advanced to the Euroleague Final for the first time in five years by downing Tau Ceramica 67-53 in the second semifinal of the 2007 Euroleague Final Four at OAKA in the Greek capital. Panathinaikos led from start to finish to the delight of thousands of Green fans in the sold-out stands. Sani Becirovic and Mike Batiste paced the Greens with 15 points apiece as Panathinaikos returned to the Euroleague final for the first time since winning the 2002 title in Bologna, Italy. Panathinaikos also took some sporting revenge against Tau, after the Greens’ chances to reach the 2006 Final Four were ended by Tau in Game 3 of the Quarterfinal Playoffs in this very same building last season. Tau lost the chance to win its first Euroleague title in its third consecutive Final Four appearance. Batiste added 12 rebounds to his tally for an impressive double-double. Serkan Erdogan led Tau with 11 points and star forward Luis Scola was limited to just 6 points.