Olympiacos Piraeus won the Euroleague championship on Sunday, as MVP Vassilis Spanoulis scored 15 points and assisted on the game-winning basket in a 62-61 victory over CSKA Moscow.

Olympiacos rallied from a 19-point deficit, capped by a jumper from Georgios Printezis to seal the win.

Spanoulis was named MVP for the second time in four seasons.

Andrei Kirklenko and Nenad Krstic of CSKA headline the 2011-12 All-Euroleague First Team. Joining them are Dimitris Diamantidis of Panathinaikos, Erazem Lorbek of Barcelona and Vassilis Spanoulis of Olympiacos.

On the All-Euroleague Second Team are Mike Batiste of Panathinaikos, Henry Domercant of UNICS Kazan, Bo McCalebb of Siena, Juan Carlos Navarro of Barcelona and CSKA's Milos Teodosic.

The 2013 Euroleague Final Four will be held in London at The O2 arena.

The agreement includes a mutual option to play the 2014 edition at The O2 as well.

This will be the first time that a European basketball title game will take place in the United Kingdom.

"Six years ago we signed a strategic agreement with AEG, which has already borne wonderful fruits," said Euroleague President Jordi Bertomeu. "In these six years we have worked together, with AEG as both consultants to our teams to maximize their arena resources and as hosts for our Final Fours. After our very successful Final Fours in Berlin and Paris, in which AEG has displayed great efficiency and professionalism in developing such a major event like the Final Four, we arrive at the opportunity to host it at London’s magnificent The O2, one of the most modern and spectacular arenas in the world. I am confident that the Final Four, which is already an unforgettable experience for Turkish Airlines Euroleague fans, will take another step forward in London."

CSKA Moscow and Olympiacos will meet in the Euroleague Final Four title game on Sunday after both were victorious in their semifinal matchups.

CSKA came back from a four-point deficit to begin the fourth quarter to beat Panathinaikos by a final score of 66-64.

Andrei Kirilenko had 17 points, nine rebounds and four blocks for CSKA, while Alexey Shevd had 15 points off the bench.

Saruna Jasikevicius led Panathinaikos with 19 points, while last year's MVP, Dimitris Diamantidis had 10 points and six assists.

In the other semifinal game, Olympiacos defeated Barcelona by a final score of 68-64.

Vassilis Spanoulis had 21 points and six assists to lead Olympiacos.

Juan Carlos Navarro scored 18 points for Barcelona.

The Nets have monitored the play of Andrei Kirilenko throughout his season with CSKA, according to sources.

But the sources say the Nets don't have a verbal agreement with Kirklenko on a three-year contract.

Wendell Maxey reported earlier in the week that the Nets had an agreement in place with Kirilenko.