It was won by Simmenthal Milano, for the first time in its history, the first of the club's three EuroLeague championships.

Simmenthal defeated Slavia VŠ Praha, by a score of 77–72, in the final of the first ever Champions Cup Final Four held in the EuroLeague competition, with two venues used: a venue in Milan, and the Palazzo dello sport arena in Bologna, Italy.

[1] The Italian team, featuring future the Basketball Hall of Fame member Bill Bradley, defeated the favorites and former champs, CSKA Moscow, in the semifinal, by a score of 57–68.

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

March 31, Milan March 30, Palazzo dello sport, Bologna April 1, Milan April 1, Palazzo dello sport, Bologna