Five Key Stories from EuroLeague Round One: King’s Return, James’ Efes Debut, Instant Rematch
Andy West provides an insightful preview for the Euroleague Basketball season.
The summer was packed with blockbuster transfers, headline-grabbing coaching changes, and the inaugural Euroleague Super Cup, all of which have heightened anticipation to a fever pitch. Now, the moment of truth arrives as the opening round of the 2026/27 season kicks off today, September 24.
The opening week features the return of a legendary coach to Athens, two Istanbul rivals boasting new stars, an instant rematch of the Super Cup semifinal, and a wave of newcomers eager to make an immediate impact. Here are the five key storylines, counting down from fifth to first.
5. Will the Newcomers Make an Impact?
This summer saw an extraordinary influx of top-tier players switching Euroleague clubs: Mike James, Shane Larkin, Will Clyburn, Toko Shengelia, Thomas Walkup, Élie Okobo, Timothé Luwawu-Cabarrot, Jean Montero, Nikola Mirotić, Cody Miller-McIntyre, TJ Shorts, Sylvain Francisco, Alec Peters, Zach LeDay—and the list goes on. The sheer volume of high-profile transfers has made this season one of the most eagerly awaited in recent memory.
Even more players have arrived from the NBA to make their Euroleague debuts. Patti Mills and Jay Crowder joined ASVEL, where another familiar face, Tony Parker, has taken a coaching role. Nick Smith signed with Real Madrid, and Wendell Moore landed at Virtus. Ukrainian prospect Maxym Shulha could make his regular-season debut for the Madrid side.
Who among these newcomers will hit the ground running, and who will need time to adjust to the physical, mental, and emotional intensity of the Euroleague? Jonas Valančiūnas at Zalgiris appears to be the perfect fit. Although not a formal debut—he played 15 games as a teenager for Vilnius’ Rytas in 2010/11 before spending 14 strong seasons and over 1,000 games in the NBA—his return home brings leadership and experience. He will lead Zalgiris in their opening away game against Belgrade’s Crvena Zvezda on Thursday at 18:00 UTC, where the atmosphere is sure to be electric.
4. Dubai and Real Madrid Face Off Again
Real Madrid ended the 2025/26 season trophyless for the first time since 2011, despite reaching the Euroleague final where they fell to Olympiacos. This disappointment cost Sergio Scariolo his coaching position.
New head coach Pedro Martínez, who previously led the less-decorated Valencia to both a Spanish championship and a Final Four, has rebuilt the roster around Timothé Luwawu-Cabarrot, Jaime Pradilla, Mikael Jantunen, and newcomers Damien Jones and Olivier Sarr.
The results were immediate. Real Madrid snapped their trophy drought by winning the first-ever Euroleague Super Cup, edging out Dubai in a thrilling overtime victory, 98-95. Now, by a quirk of the schedule, these two teams meet again in the opening round of the regular season on Thursday at 16:00 UTC.
Returning home after their brief trip to Abu Dhabi, Dubai will be eager to exact revenge and assert themselves as early title contenders. Their powerful squad, featuring Élie Okobo and Toko Shengelia, is guided by the experienced coach Xavi Pascual.
This matchup also symbolizes how rapidly the European basketball landscape is evolving: a once-aggressive newcomer that didn’t exist three years ago versus the club with the most Euroleague titles in history. The new order? Martínez and his freshly crowned Super Cup champions are determined to prove they won’t be pushed aside.
3. Will We Finally See Larkin in a Fenerbahçe Jersey?
After nearly a decade as the face of Anadolu Efes—leading them to back-to-back Euroleague titles in 2021 and 2022—Shane Larkin is set to don the yellow and blue of Fenerbahçe. However, fans are still waiting.
Larkin missed the Super Cup due to fitness concerns, and the big question remains about the physical condition of the 33-year-old, whose playing time has been severely limited by injuries in three of the last four seasons. Seeing him log meaningful minutes in Friday’s home game against Virtus Bologna at 17:45 UTC would be reassuring.
Coach Šarūnas Jasikevičius’s appreciation for seasoned warriors is evident in the signings of Will Clyburn, Shavon Shields, Braxton Key, and Trent Forrest.
If Larkin is ready from day one, he will inject the backcourt with the spark it has lacked since Scottie Wilbekin suffered a long-term injury nearly two years ago. Friday’s game will provide the first clues.
2. Mike James Brings Scoring to Efes
Fans of Efes who were disappointed by Larkin’s departure across the Bosphorus quickly found solace in the arrival of Mike James. If you have to say goodbye to a club icon, replacing him with the Euroleague’s all-time leading scorer is a more than decent consolation.
Interestingly, James was never supposed to join Efes. Everything seemed agreed with Barcelona until the deal collapsed at the last moment, allowing the Istanbul club to swoop in. Adding to the irony, the schedule pairs Barcelona and Efes in the first round. So James will make his season debut at the Palau Blaugrana on Thursday at 18:30 UTC—just not as originally planned.
Despite being 36, James impressed for the USA national team in his long-awaited international debut this summer and has shown no signs of slowing down. With added motivation to win the elusive Euroleague title, he is determined to lift Efes after last season’s near-bottom finish (12-26).
Starting his collaboration with the experienced Pablo Laso—a Real Madrid legend—against a Barcelona side in early rebuilding stages adds an intriguing dynamic, potentially giving Efes the boost they need. The saga of Mike James continues.
1. The King Returns
Among a summer packed with high-profile player and coach signings, the most significant event was the return of Željko Obradović to Panathinaikos.
The most decorated coach in European basketball history won five of his nine continental crowns during 13 brilliant years in Athens (1999–2012). Every time he has visited as an opponent, he received a raucous welcome, but nothing compares to the ovation awaiting him this week from the “greens” fans, who have been counting down the days all summer for their favorite adopted son’s comeback.
The architects of this reunion might want to check the roof of the Telekom Center Athens—the roar when Obradović steps onto the sideline for the first time could send it into orbit.
The king’s return is a romantic, touching, and warm story, but the decision to bring Obradović back was far from sentimental. It’s all about victories. Last year’s failure to reach the home Final Four hurt deeply, and the subsequent success of their fierce rival Olympiacos only sharpened that pain.
Obradović’s mission is to restore Panathinaikos to the pinnacle of Europe and claim the long-awaited tenth Euroleague title (his ninth came with Fenerbahçe in 2017). Anything less will be considered a disappointment. The welcome will be warm to boiling point, but the pressure is very real.
On paper, the home opener against Paris Basketball on Thursday at 19:15 UTC—who finished last season 16th with a 15-23 record—looks like a perfect chance to launch Obradović’s second tenure with momentum. However, the French club is entering a new era under Maxime Lefebvre, a former Minnesota assistant eager to make a splash in his first head coaching role.
Spoiling the GOAT’s homecoming would be the most dramatic possible start.
Full Euroleague 2026/27 Opening Round Schedule
Thursday, September 24
16:00 Hapoel Tel Aviv vs Bayern Munich (Arena 8888, Sofia)
16:00 Dubai vs Real Madrid (Coca-Cola Arena, Dubai)
18:00 Crvena Zvezda Belgrade vs Zalgiris Kaunas (Belgrade Arena)
19:15 Panathinaikos Athens vs Paris Basketball (Telekom Center Athens)
18:30 Barcelona vs Anadolu Efes Istanbul (Palau Blaugrana)
18:30 Baskonia Vitoria-Gasteiz vs Olympiacos Piraeus (Buesa Arena)
18:45 ASVEL Villeurbanne vs Maccabi Tel Aviv (LDLC Arena, Lyon)
Friday, September 25
17:00 Besiktas Istanbul vs Valencia (Turkcell Basketball Development Center)
17:45 Fenerbahçe Istanbul vs Virtus Bologna (Ülker Sports and Event Hall)
19:45 Partizan Belgrade vs Olimpia Milano (Belgrade Arena)
