EuroLeague Preseason Power Rankings: Panathinaikos and Olympiacos Lead Historic Summer Arms Race

The 2026-27 EuroLeague season tips off on September 24, and the continent's basketball landscape has been fundamentally redrawn by an unprecedented summer arms race. Following Olympiacos's dramatic championship run last May, Europe's heavyweights have responded with aggressive spending. With a grueling 38-round regular season looming, preseason power rankings reflect a league where NBA talent and established European stars have consolidated at the top, setting the stage for a fiercely contested campaign.[1][4]

At the top of the consensus preseason rankings sits Panathinaikos AKTOR Athens. The Greens hold the top spot driven by the Zeljko Obradovic effect and a massive financial commitment. Panathinaikos lured French power forward Guerschon Yabusele back from the NBA on a reported three-year, $15 million contract. Yabusele, fresh off a viral Olympic performance and a stint with the Chicago Bulls, joins Sylvain Francisco to give Panathinaikos unmatched physicality.[1][2]

"I'm French and I'm happy to play with my friend," Yabusele joked about the locker room chemistry, which will be tested early in the grueling schedule. His arrival instantly makes the Athens powerhouse the team to beat, combining elite athleticism with Obradovic's legendary tactical discipline.[7]

Just behind them are the defending champions, Olympiacos Piraeus. The squad is arguably deeper than the group that lifted the trophy. While they lost Thomas Walkup to Dubai Basketball, head coach Georgios Bartzokas reloaded with Rising Star Jean Montero, veteran Evan Fournier, and Codi Miller-McIntyre. Reigning MVP Sasha Vezenkov remains the undisputed focal point of the offense.[1][5]

In a September 11 preseason friendly in Nicosia, Vezenkov poured in 22 points—including six straight in the final minute—while Montero delivered decisive defensive stops to edge Crvena Zvezda 89-87. The performance proved their clutch execution is already in mid-season form.[5]

In the third spot is Anadolu Efes Istanbul. After a disappointing 2025-26 campaign and the departure of Shane Larkin to rival Fenerbahce, Efes executed the coup of the summer by signing the EuroLeague's all-time leading scorer, Mike James. James, who boasts 5,916 career points, signed a 1+1 deal after five seasons with AS Monaco.[3]

He debuted with 14 points in a September preseason win over Trabzonspor. "I know the quality of the league," James told reporters in Istanbul. "To reach that quality, we have to improve as a team." Efes also added Dario Saric and Matt Strazel, instantly vaulting them back into the elite tier under coach Pablo Laso.[3][6]

Rounding out the top tier is Fenerbahce Istanbul. Head coach Saras Jasikevicius has guided his teams to six consecutive Final Fours, and Fenerbahce remains a lock for the top four. The addition of Shane Larkin to an already experienced core ensures their offense will remain lethal, even as they integrate nine new players into the rotation.[1]

Beyond the traditional powers, the landscape is shifting with several dark horses. Zalgiris Kaunas shook the market by signing Lithuanian icon Jonas Valanciunas, while the newly minted Dubai Basketball franchise signaled its ambition by acquiring Walkup and Elie Okobo.[1]

The 2026-27 season will also introduce significant rule changes, including a redefined "act of shooting" that begins the moment a player moves their shoulders upward, and the replacement of the unsportsmanlike foul with "disruptive" and "flagrant" categories. With 20 teams navigating a 38-game gauntlet, the margin for error is razor-thin. As the September 24 tip-off approaches, the sheer concentration of talent guarantees that the road to the May 2027 Final Four will be the most fiercely contested in EuroLeague history.[4]