The most decorated club in modern EuroLeague history, Panathinaikos has built a dynasty—but one feat has eluded them: back-to-back titles. A milestone that their current head coach, Ergin Ataman, famously achieved with Anadolu Efes in 2022 and 2023.

The Rise of a Titan (1994–2000)

The Panathinaikos Final Four journey began 31 years ago in Tel Aviv, 1994, as Greece made history with two representatives—PAO and Olympiacos—sharing the stage. Though the Greens lost the semifinal to their archrivals, they secured third place by demolishing Barcelona 100–83.

A year later, in Zaragoza, the same script played out: defeat to Olympiacos in the semifinal, followed by a consolation win against Limoges.

But 1996 in Paris marked a turning point. With Dominique Wilkins pouring in 35 points in the semifinal against CSKA Moscow and Stojan Vranković sealing a legendary 67–66 win over Barcelona in the final with a game-saving block, Panathinaikos lifted their first European title—and became the first Greek club to do so.

In 2000, on home soil in Thessaloniki, the Greens added a second star, beating Efes Pilsen and Maccabi Tel Aviv to reign again.

Suproleague Split and Sweet Redemption (2001–2002)

The following season, the EuroLeague split saw PAO side with FIBA’s Suproleague. They reached the final again, only to fall to Maccabi in Paris—their only lost final to date.

In 2002, back in the unified EuroLeague and under the genius of Željko Obradović, Panathinaikos conquered Bologna, defeating hosts Kinder in an 89–83 thriller. Lazaros Papadopoulos emerged as a breakout star in what became their third title.

The OAKA Era and European Domination (2005–2011)

A brief dry spell ended in 2005, with a Final Four trip to Moscow. PAO fell to Maccabi but edged CSKA for third.

Then came 2007, and perhaps the greatest Final Four atmosphere ever. Playing at home in the OAKA, Panathinaikos ousted Baskonia before edging CSKA 93–91 in a classic final. It was title number four—and the start of something special.

In 2009, a loaded backcourt—Diamantidis, Spanoulis, Jasikevičius, Nicholas—pushed Panathinaikos past Olympiacos and then CSKA in Berlin. Another nail-biter, another trophy.

By 2011, it was routine. Barcelona hosted, Siena and Maccabi fell, and Obradović held his fifth EuroLeague title as PAO’s leader. It was the club’s sixth crown.

The last gasp of that golden generation came in 2012. Narrow semifinal and third-place losses to CSKA and Barcelona closed the chapter.

The Wilderness Years (2013–2023)

From 2013 onward, the shine faded. At first, they reached the playoffs but never the Final Four. Eventually, the club couldn’t even crack the top eight—bottoming out in 2022, finishing second-to-last in the standings.

But in 2023, everything changed.

With Ergin Ataman at the helm and a completely revamped roster, Panathinaikos returned to their roots. Berlin was once again the setting. The opponent in the semifinal? Fenerbahçe—handled with clinical ease, 73–57.

In the final, Real Madrid came out strong, but the Greens roared back behind Final Four MVP Kostas Sloukas, delivering a legendary second-half comeback to win 95–80 and secure their seventh European crown—their first in over a decade.

Panathinaikos’ Final Four Journey at a Glance

Year	City	Result
1994	Tel Aviv	3rd place
1995	Zaragoza	3rd place
1996	Paris	Champions 🏆
2000	Thessaloniki	Champions 🏆
2001	Paris (Suproleague)	Runner-up
2002	Bologna	Champions 🏆
2005	Moscow	3rd place
2007	Athens (OAKA)	Champions 🏆
2009	Berlin	Champions 🏆
2011	Barcelona	Champions 🏆
2012	Istanbul	4th place
2024	Berlin	Champions 🏆

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As the 2025 Final Four in Abu Dhabi approaches, Panathinaikos doesn’t just carry history on its back—it carries momentum. With a championship-caliber coach, a battle-tested roster, and seven stars on the jersey, the Greens are chasing what’s never been done in club history: Back-to-back titles.