The competition was won by Real Madrid, who clinched a historic eighth title win by beating fellow La Liga side, Valencia in the final.

The final was hosted in the Stade de France in Paris, the city where the original roots of the competition had begun nearly 50 years earlier.

As a result, the tournament was a stark contrast from 1996–97 (which took place only three years prior) where only top national champions and title holders participated.

The competition was dominated by the Spanish teams, with three of the four semi-finalists coming from Spain, namely Real Madrid, Valencia and Barcelona.

Additionally, Bosnia and Herzegovina was not admitted as their play-off for Champions League qualification didn't take place.

AIK, Boavista, Bordeaux, Chelsea, Fiorentina, Hertha BSC, Lazio, Maribor, Molde, Valencia and Willem II made their debut in the group stage.