The tournament was held on 10 and 12 February 2023 in San Cristóbal de La Laguna, on the Spanish island of Tenerife.

Canarias (known as Lenovo Tenerife for sponsorship reasons) won its third Intercontinental Cup title after defeating São Paulo in the final.

[3] Rio Grande Valley Vipers came in third place, US Monastir in the fourth.

However, the Asia Champions Cup was cancelled due to the COVID-19 pandemic, and no team participated.

The draw for the semi-final pairings was held on 13 January 2023 in the building of the Cabildo Insular de Tenerife, the governing body of Tenerife.