John Higgins, the world number three, won the tournament, defeating two-time Champions Cup runner-up Mark Williams seven frames to four (7–4) in the final.

In the semi-finals, Higgins defeated Ken Doherty, the 1997 world champion, 5–2 and Williams won against the 2001 Scottish Open victor Peter Ebdon by the same scoreline.

Ebdon made the highest break of 130 in the third frame of his group match over Ronnie O'Sullivan, the 2001 world champion.

[1] The Champions Cup had a prize fund of £200,000,[3] with £100,000 going to the winner,[4] and was broadcast in the United Kingdom on ITV.

[2] A total of eight players competed in the Champions Cup: five ranking competition winners from the 2000–01 season and three wildcards.

The group stage matches played between 11 and 16 August were part of a round-robin format and were best-of-nine frames.

[11] Ebdon made a total clearance of 130 and obtained two snookers to defeat O'Sullivan and eliminate his opponent from the tournament,[12] saying afterwards: "On a number of occasions fortune smiled on me, and that's something you need against a top player like Ronnie.

"[13] Breaks of 70, 118, 70 and 74 in 64 minutes allowed Doherty to maintain his 100 per cent win record at the event with a 5–1 victory against White.

[14] World number three John Higgins won 5–4 over two-time Champions Cup runner-up Mark Williams.

Hendry failed to take a 3–2 lead because he missed the black while 66–0 in front and Hunter took frame five with a 70 clearance.

[16] After breaks of 53, 52 and 72, Hendry lost for the second time in a row when match-long leader Williams defeated him 5–3 from two half-centuries.

The result required Hendry to win his game against fellow Scot Higgins to qualify for the semi-finals.

[22][23] He opened up a 4–1 advantage without making any major errors,[23] before Doherty took frame six after Higgins missed the pink into the top left-hand pocket.

[2] Breaks of 61 and 104 in 43 minutes gave Williams a 3–0 lead;[24] Ebdon was required to concede the third frame with one red on the table.

[25] Ebdon avoided a whitewash by winning the fourth frame on a re-spotted black to the top right-hand pocket.

[25] It was the third consecutive year that Williams had made the final of the Champions Cup and his 14th in any tournament in the last 25 months.

[5][6] A century break of 100 and a clearance of 41 to the blue gave Williams a 2–0 lead after Higgins missed a safety shot.

[27] Higgins required a snooker and obtained it to achieve a 35 clearance from the final red to the pink to go two frames ahead.

[33] The highest break of 130 was recorded by Peter Ebdon in the third frame of his Group A match against Ronnie O'Sullivan,[33] which earned him £5,000 prize money.