After a phenomenal performance in the Euroleague Final Four, where Olympiacos Piraeus beat the two top-ranked Euroleague teams and surprisingly won the championship, the Reds completed another historical accomplishment.

Olympiacos ended the domination of their biggest rival, Panathinaikos Athens, in the Greek league by winning the best-of-five final series, 3-2. All five games ended with a scoring margin no greater than 12 points.

Panathinaikos had won nine consecutive championships and 14 over the past 15 years. For Olympiacos, it was the first Greek title since the 1996-97 season.

After beating all Euroleague Final Four teams - FC Barcelona in the Euroleague semifinal, CSKA in the final and Panathinaikos in domestic league final, Olympiacos can call itself the king of European basketball.

Vassilis Spanoulis led Olympiacos in the final series, where he averaged 13.2 points and 4.8 assists per game. In the decisive fifth game, Spanoulis, who received the season MVP award, scored a game-high 24 points.

With Panathinaikos' loss to Olympiacos, head coach Zeljko Obradovic departed. Eight-time Euroelague champion Obradovic left Panathinaikos after working there for 13 years.

Panionios Athens finished third in Greek league this season, while Kolossos Rodou was the fourth.

The 35-year-old Nestoras Kommatos of Maroussi Athens led the Greek league in scoring with 20.4 points per game, as his teammate Yannis Gagaloudis led in assists with six.

Ikaros Kallitheas’ Aron Baynes, a former Washington State center, led the league in rebounds with 8.7 per game. Former NBA player Patrick O’Bryant, who played for Kavala this season, was the best in blocks with 1.4 per game.

Top-five contenders: Aris, Olympiacos, Panathinaikos, Panionios, PAOK

If NBA lockout had started before Greece’s economic crisis, we probably would have seen many more NBA players playing in Europe this season.

Olympiacos Piraeus was a pioneer of signing NBA role players, not bench warmers, in Europe and was also one of the most active off-season teams in last few years. The Reds shocked the basketball world by signing Josh Childress back in 2008 and bringing players like Von Wafer and Linas Kleiza. Olympiacos was even trying to sign Nate Robinson or Stephon Marbury when the lockout was far away.

However, while other Euroleague teams were trying to decide which NBA player they want to have on their squad, Olympiacos was just a spectator due to Greece's economic climate. Piraeus, who also once signed big names, filled roster spots with cheaper players and NCAA graduates.

Despite all the financial problems, Olympiacos should reach the Greek league finals, where they’ll meet their biggest rivals Panathinaikos Athens, the main favorite to win the league (as usual). Panathinaikos is led by Dimitris Diamantidis, Nick Calathes and Mike Batiste.

The Greens has won ten championships in a row and still counting. The most successful European basketball club of last decade began the new decade by winning Euroleague last season and seems to be head and shoulders better than any of their opponents in Greece.

NBA players in Greece:

Jon Diebler (Portland Trail Blazers) - Panionios (no NBA-out)