Two-time defending champion Olympiakos and its Greek league arch-rival Panathiniakos were bounced out of the Euroleague quarter-finals on April 25 after coming back from 2-0 deficits to tie their best-of-five series. Olympiakos was beaten 83-69 in Spain by Real Madrid, making a game of it. It was a rematch of last year's final won by the Greek team, 100-88. Panathinaikos, the 2011 champion, was destroyed 74-44 in Russia by CSKA Moscow in a humiliating rout.
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