Each game on the EuroLeague's season schedule is considered to be an individual round.
It is determined by a statistical formula, called either the Performance Index Rating, or the Performance Index Ranking (PIR) by the EuroLeague, and also known as either Evaluation or Valuation, in some European national domestic basketball leagues.
The stat's formula is (Points + Rebounds + Assists + Steals + Blocks + Fouls Drawn) - (Missed Field Goals + Missed Free Throws + Turnovers + Shots Rejected + Fouls Committed).
The Performance Index Rating (PIR), is not the same stat as the NBA Player Efficiency (EFF), or the John Hollinger Player Efficiency Rating (PER) or Game Score stats, although it is often mistaken to be.
Prior to the EuroLeague 2011–12 season, the award was given to the player that had the round's highest PIR score.