ATHENS, Greece -- Olympiakos clinched the EuroLeague basketball title Sunday, beating Real Madrid 92-85 despite a late stretch of mistakes.
With Milwaukee Bucks star Giannis Antetokounmpo watching the game from the stands, Alec Peters hit the final free throw as Olympiakos secured its fourth continental crown, sparking wild celebrations at the Telekom Center in Athens and across the Greek capital.
"Blessed is the only word I have," the American-born Peters said. "After four years of blood, sweat and tears with this group ... it's hard to describe how I feel."
Playing in front of a home crowd, Olympiakos overcame a sluggish start. It fell behind 15-3 in the opening four minutes before rallying to take a 46-44 lead at halftime. Former NBA guard Evan Fournier sparked the comeback with an 11-point burst in the second quarter.
Olympiakos later struggled with turnovers and briefly fell behind Real Madrid. NBA veteran Trey Lyles led the injury-hit Spanish club with 24 points, while Fournier paced Olympiakos with 20.
"We suffered tonight with Real Madrid; they played an excellent game," Olympiakos coach Georgios Bartzokas said. "I think we deserved it after the way we played all year."
Real coach Sergio Scariolo said his team came close to an upset late in the game.
"In the last seconds, we missed a chance to tie the game, unfortunately," he said. "We fought against a very, very great team -- a powerhouse. I give them credit, but I'm very, very proud of how we played. And we'll be back."
Olympiakos reached the final after a 79-61 semifinal win over defending champion Fenerbahçe on Friday, while Real Madrid advanced with a 105-90 victory over Valencia.
As celebrations broke out in Athens and at the nearby port of Piraeus, where Olympiakos is based, Greek Prime Minister Kyriakos Mitsotakis congratulated the winners.
"The top of the EuroLeague has been painted in red and white," he wrote in an online post, referring to the team's colors. "Warm congratulations to Olympiakos on this great achievement."
Thousands of fans packed into the main square at the port of Piraeus, with fans dancing in celebration and holding up red flags and flares.
"The feeling is even better than I imagined," Fournier said. "The celebrations will go on beyond tonight, that's for sure."
The Associated Press contributed to this report.