Olympiacos Wins EuroLeague, Defeating Real Madrid in Dramatic Final in Athens
On Sunday, Greek club Olympiacos defeated Real Madrid 92-85 in the Final Four final in Athens. Evan Fournier scored 20 points, while MVP Trey Lyles recorded 24 points, but it wasn't enough to save Real from defeat.
Triumph in Athens: How Olympiacos Beat Real Madrid to Win the EuroLeague
Main Event
On the evening of May 24, 2026, the Telekom Center Athens in Athens became the site of a basketball triumph. In the EuroLeague Final Four final, Greek club Olympiacos defeated Real Madrid 92-85, claiming their fourth European championship title in history. This success was the first for the "red-and-whites" in 13 years — their previous championship dated back to 2013, when the team won the trophy under legendary coach Vassilis Spanoulis.
The game followed an unexpected script from the start. Despite missing three key centers — Edy Tavares, Alex Len, and Usman Garuba — Real Madrid looked very convincing and controlled the game for most of the match. The Spanish giants led for over 25 minutes of playing time, with their maximum lead reaching +12. It seemed that the injuries to their tall players were not a fatal problem for Madrid, as they compensated for the lack of height with speed and accuracy from long range.
However, basketball is decided on the boards and in the final minutes. In the fourth quarter, Olympiacos made a decisive run. The Greek team entered the final period trailing 61-65 but immediately turned the game around. Sasha Vezenkov finished the first attack of the final quarter with a three-pointer, giving the hosts the lead. From that moment on, Olympiacos seized the initiative and never let it go, winning the final quarter with a crushing 31-20 score.
The final seconds of the game were a real thriller. With 11 seconds left on the clock, Real Madrid guard Andrés Feliz had a chance from beyond the arc that could have tied the game (88-88) and sent it to overtime. However, his shot was off — the ball hit the rim and bounced into the hands of Olympiacos players. This miss put an end to the trophy's fate: the Greeks made their free throws and secured the final advantage.
Details and Statistics
The numbers from the final game are extremely telling. The main reason for Olympiacos's victory lies under the basket: total dominance on the boards. The Greek team grabbed 42 rebounds compared to 26 for Real Madrid. Particularly important were the 12 offensive rebounds, which allowed Olympiacos to attack again and again after misses and extend their possessions.
Individual statistics reflect the collective nature of the hosts' victory. All 12 Olympiacos players scored points. However, the leader of the attack was French guard Evan Fournier. In the final, he scored 20 points, adding 5 rebounds and 4 assists, making 5 of 5 free throws. Fournier also hit 3 three-pointers and posted a PIR of 21. He was awarded the Final Four MVP title — the second such award for an Olympiacos player this century, following Spanoulis's double in 2012 and 2013.
Supporting Fournier was Alec Peters, who recorded 16 points and 7 rebounds with an impressive 5 of 6 shooting from the field. Thomas Walkup added 10 points without a miss — 2 two-pointers and 2 three-pointers. Center Nikola Milutinov grabbed 8 rebounds while battling the opponent's small lineup. The bench contribution was decisive: Tyson Ward, Shaquille McKissic, and Donta Hall refreshed the team's play at crucial moments.
For Real Madrid, apart from the context of injuries, it's impossible to view their performance as anything less than heroic. In the absence of three centers, the entire offensive load fell on newcomer Trey Lyles and Croatian Mario Hezonja. Lyles, who signed with Real Madrid in September 2025 after 10 seasons in the NBA, delivered the best game of his career. The Canadian forward scored 24 points and grabbed 8 rebounds, hitting 5 of 6 attempts from beyond the arc. Hezonja responded with 19 points, 5 assists, and 4 steals, constantly troubling the Greek defense with his drives.
Real Madrid's three-point accuracy was higher — 13 makes to Olympiacos's 10 — but their percentage was lower (37% vs. 50%). The outcome was decided not so much by shooting as by free throws and turnovers: Olympiacos made 22 of 27 free throws (81.5%), while Real Madrid made only 12 of 18 (66.7%). The rebounding advantage and the difference in converting easy points were the wall against which the Spaniards' courage broke.
Context and Significance
This final will go down in EuroLeague history as one of the most symbolic. Olympiacos won their fourth title, tying them with CSKA Moscow (Real Madrid has 11 titles, which remains the absolute record). But most importantly, the victory was achieved at home. The Final Four was held in Athens, at the arena of their sworn enemy Panathinaikos, which added a special political and emotional subtext to the derby. Approximately 10,000 Greek fans turned the neutral venue into a home stadium, creating incredible pressure on the opponent.
Olympiacos's season is a story of steady ascent. Finishing first in the regular season, the team easily dispatched Monaco in the quarterfinals (3-0). In the Final Four semifinal, they defeated the reigning champion, Turkish club Fenerbahçe (which had beaten Monaco 81-70 in the previous season). Only then came revenge for the loss in the bronze final a year earlier. For a club that had settled for third place a year ago, gold was a natural outcome of their progress.
Real Madrid found themselves in a time crunch due to an epidemic of injuries. The absence of Tavares (221 cm) and Garuba deprived the team of height in the paint. The Spaniards played "ultra-small" basketball, where the only nominal center at 201 cm was Chuma Okeke. The fact that Real Madrid not only competed but led for most of the game speaks to the highest class of their players. However, three-pointers and determination were not enough against the hosts' deep bench and physical superiority.
Trey Lyles, despite the loss, proved the correctness of Real Madrid's management decision. Signed in the summer of 2025 as a "high-profile NBA rookie," he lived up to expectations at the most crucial moment. After 662 games for Utah, Denver, San Antonio, Detroit, and Sacramento, Lyles adapted to European basketball and became the team's leader. His contract ran until the summer of 2026, and likely after such a performance, the Spaniards will want to extend it.
What's Next / Next Match Preview
The EuroLeague season is over for Olympiacos and Real Madrid. However, the summer months do not mean silence. After the final whistle, Real Madrid will focus on the domestic Spanish league (ACB), where they are also fighting for the title. The ACB playoffs start in early June. Whether Sergio Scariolo's team can overcome the psychological disappointment of the loss in Athens is the main question of the coming weeks.
Olympiacos, besides celebrating, will begin preparations to defend their title next season. The club's management will likely try to keep the winning roster. Special attention is on Evan Fournier. The 33-year-old Frenchman (as of May 2026) is in his prime, and there is a high probability that offers from the NBA or top EuroLeague clubs will come his way this summer. However, becoming a hero in Athens and leaving the same year is not a common scenario; most likely, Fournier will stay at least for the start of next season to try to defend the cup.
For basketball fans, the dates for the next Final Four are already known. In the 2026/27 season, the decisive games will take place in May 2027; the venue has not yet been confirmed. Real Madrid will almost certainly remain among the favorites, but given the age of their leaders, management will have serious work to do on the transfer market to strengthen the front line. The season showed that without healthy centers, even the "royal club" is vulnerable to physically strong opponents.
As for the participants in the next edition, direct EuroLeague spots through national championships are still to be decided. However, Olympiacos and Real Madrid, as finalists of the current edition, have the best chances of maintaining their elite status. The upcoming offseason promises to be hot — scouts are already noting the names of potential newcomers, watching playoff games in the NBA and other leagues.
Editorial Prediction
This final put everything in its place in the hierarchy of the current season. Olympiacos is currently the strongest team in Europe. The Greeks have an ideal balance: a powerful front line (Milutinov, Hall, Vezenkov), smart guards (Walkup, Fournier), and a deep bench. The victory in Athens was not a coincidence — it was earned through rebounding and defensive discipline. Even after letting the opponent get ahead by 12 points, Georgios Bartzokas's team did not panic and weathered the storm.
Real Madrid proved that even in a half-broken state, they can dictate terms to any opponent in Europe. If not for the injuries to three big men, the outcome of the final could have been different. But that "if" is part of sports. Prediction for next season: Real Madrid will return to the Final Four and be a favorite, provided the club's medical staff learns from their mistakes. The team's core (Campazzo, Hezonja, Lyles) is elite.
As for the near future: will Olympiacos retain the title next year? Difficult, but possible. EuroLeague history shows that defending the title is extremely hard due to high competition. The last time it was done was in 2010-2013 by Olympiacos with Spanoulis. Irony of fate? Now a new hero takes the stage — Fournier. If the Greeks manage to keep the roster and maintain their winning hunger, they are capable of a second consecutive final. However, the main intrigue of the summer is whether any NBA club can lure Fournier back across the ocean. If so, Olympiacos's chances of repeating success will drop sharply. In any case, basketball Europe got a memorable final and a live intrigue for the next offseason.
— Editorial Team
