Lithuanian club Lietuvos Rytas of Vilnius, won the tournament and promotion to the top level EuroLeague for the next season.

The competition was jointly organized by Euroleague Basketball Company and FIBA Europe.

[1] Sixteen teams competed in the first preliminary round, which was organised by FIBA Europe.

The eight winners advanced to the second preliminary round, and the eight losers parachuted into the third-tier European competition, the EuroChallenge.

Due to a decision of the Italian Basketball Federation to revoke Capo d'Orlando's first division license, followed by an Italian National Olympic Committee (CONI) tribunal rejected appeal by the club, Capo d'Orlando lost the right to participate in European competitions.

As in the first preliminary round, matches were two-legged and decided on aggregate score, with the winners advancing to the Eurocup regular season and the losers parachuting into the EuroChallenge.

The survivors of the Regular Season were divided into four-team groups, each playing a double round-robin schedule.

Like the Euroleague Final Four, this was a knockout tournament, conducted in one-off matches, held at a single site.