Unlike the EuroLeague Men, the competition is entirely organized by FIBA Europe.

The men's tournament consisted of 46 games, with over 100,000 spectators turning out to watch.

At the initial tournament Slavia Sofia of Bulgaria were crowned champions, beating Soviet Dynamo Moscow 64–40 at home and then 44–34 on the Muscovites court.

During its formative years, the tournament was dominated by Daugava Riga from Latvia (then Soviet Union) who appeared in 16 finals between 1960 and 1977, winning all 16 of them.

In February 2022, the Russian teams and officials were expelled from the tournament by FIBA for the playoffs due to the country's invasion of Ukraine.

[1] EuroLeague Women suspended Russian clubs UMMC Ekaterinburg, Dynamo Kursk, and MBA Moscow.