This season of the competition also marked an end to the era of European national domestic league champions only participation, as it featured an expanded competition, that included national domestic league champions, the current league title holders, and some other teams from the most important national domestic leagues. That also was in accordance with the league being renamed, and being called the FIBA European League (or shortened to FIBA EuroLeague) championship for men's clubs. This was because the new competition format was closer to a true European League in style. It was a name the competition would keep for the next four editions of the competition as well.
33 teams (the cup title holder, national domestic league champions, and a variable number of other clubs from the most important national domestic leagues) played knock-out rounds on a home and away basis. The aggregate score of both games decided the winner.
The sixteen remaining teams after the knock-out rounds entered the Regular Season Group Stage, divided into two groups of eight teams, playing a round-robin. The final standing was based on individual wins and defeats. In the case of a tie between two or more teams after the group stage, the following criteria was used to decide the final classification: 1) number of wins in one-to-one games between the teams; 2) basket average between the teams; 3) general basket average within the group.
The top four teams from each group after the Regular Season Group Stage qualified for a Quarterfinal Playoff (X-pairings, best of 3 games).
The four winners of the Quarterfinal Playoff qualified for the Final Stage (Final Four), which was played at a predetermined venue.