It was won by Rīgas ASK for the third straight time, an accomplishment only achieved again by Jugoplastika in the late 1980s, in 1989–1991.

Riga defeated Slovan Orbis Prague in the semifinals, and AŠK Olimpija in the quarterfinals.

European national domestic league champions, plus the then current FIBA European Champions Cup title holders only, playing in a tournament system.

Since the Italian Federation refused to name another entrant in Champions Cup, Union Babenberg received a forfeit (2-0) in both games.

**Maccabi Tel Aviv withdrew before the competition due to internal problems and Fenerbahçe received a forfeit (2-0) in both games.