Olympiacos BC is a Greek basketball team. A part of the Olympiacos CFP family, the team was founded in 1925, and is one of the oldest and most tradition-rich clubs in Europe. Olympiacos has always been a strong contender in both the Greek League and the Euroleague.
The team is frequently referred to as the "Chicago Bulls of Europe," due to the fact that the two clubs wear the same colours and had played an exhibition game in 1997, during the Bulls' NBA dynasty and Olympiacos' dominance in Europe.
The Euroleague is currently contested in four phases. Phase one is the regular season, in which 24 teams plays two games against every other team in its group. At the end of the regular season, the field will have been cut down to 16 teams.
The second phase, known as the Top 16, then begins. As in the regular season, each Top 16 group is contested in a double round-robin format.
The third phase, the quarterfinal round, has been played since the 2004-05 season. The first- and second-place teams from each group advance and the first-place team from each group is matched against a second-place team from another group in a best-of-three series, with two of the three possible games scheduled at the first-place team's home court.
The Final Four features the winners of the four quarterfinal series in one-off knockout matches. The semi-final losers play for third place, while the winners play for the championship.
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