Olympiakos’ Kostas Sloukas is defended by Real Madrid’s Sergio Rodriguez in the 2013 Euroleague final in London. (GETTY IMAGES)

Led by Euroleague MVP Vassilis Spanoulis, Olympiakos Piraeus used a dominant second half to defeat Real Madrid, 100-88, to capture Europe’s premier basketball trophy for the second year in a row.

The game was a stark contrast to last year’s final when it took a game-winning shot from Georgios Printezis at the buzzer to overcome heavily favored CSKA Moscow. Olympiakos became the first team to win back-to-back Euroleague titles since Maccabi Tel Aviv won in 2004 and 2005.

Spanoulis, who once played for the Houston Rockets and one of the stars on the Greek national team, dominated the second half. He shot five 3-pointers and notched four assists. He was voted the Final Four’s most valuable player for the third time and finished with a game-high 22 points.

“It has been a very difficult year – you know our budget,” Spanoulis told Reuters. “Our backs have been against the wall many times, but we have stayed together and fought back each time.”

Greece has been stuck in an economic rut, so the victory was a much-needed one. Inspired by a vocal following who made the trip to London’s O2 Arena, Olympiacos battled back from 27-10 down after the first quarter to take the lead early in the second half. They rarely looked threatened, scoring 39 points in the fourth quarter to clinch their third Euroleague title.

“[Madrid] scored some incredible shots in the first quarter, but we put a stop to that and started rebounding offensively, and I think that was the key to success in the end,” said Olympiakos forward Pero Antic.

After defeating CSKA in the semifinals, the Greeks used their trademark defense against Real Madrid, holding the eight-time Euro champions t0 14 points in the second quarter and 20 in the third. Kyle Hines and Pero overpowered the Spanish forwards inside.

Former Portland Trail Blazers guard and Spanish national team star Rudy Fernandez led Real Madrid with 21 points. His teammate’s on Spain’s nation team, Sergio Rodriguez and Sergio Llull, scored 17 and 14 points respectively. Madrid lost its first Euro final since 1995 when it fell to KK Cibona in Zaragoza, Spain.

“Spanoulis’ three-pointers changed the game’s rhythm while we were still working to get back into the game, but in the end they were able to control the (lead),” said Real coach Pablo Laso.

Reuters contributed to this report.

Juan Carlos Navarro was the captain of the Spanish national team that competed in the 2010 FIBA World Championship in Turkey. (FIBA)

Like most European sensations, Juan Carlos Navarro wanted to try his luck in the NBA. He played one season with the Memphis Grizzlies in 2007-08, teaming with fellow Spaniard Pau Gasol.

The Grizzlies acquired Navarro’s draft rights from the Washington Wizards – which selected the Spanish guard with the 40th overall pick in 2002 – and believed he would be a good fit for an up-and-coming team that needed some savvy veterans.

Navarro appeared in all 82 games for the Grizzlies, starting 30 of them. He averaged 10.9 points per game in 26 minutes and shot 40.2% from the field and 36.1% from behind the 3-point line – his specialty.

But Navarro’s NBA career was short-lived. After Gasol – his friend and teammate on Spain’s national team – was traded to the Los Angeles Lakers in 2008, Navarro didn’t like where the Grizzlies were headed and began planning a return trip to Europe.

His home team of nine years, Regal FC Barcelona, made him an offer he couldn’t refuse. The contract was reportedly worth $20 million for five years, which dwarfs what the Grizzlies paid him ($538,000) for his one-year service.

Juan Carlos Navarro won the Euroleague regular season MVP in 2009 and captured the 2010 Euroleague Final MVP after leading FC Barcelona over Olympiacos. (REUTERS)

For the past two seasons, the man they call “La Bomba” has rediscovered his touch and reasserted himself as one of the elite players in Europe. Navarro won the Euroleague’s MVP in 2009 and recently led FC Barcelona to an 86-68 victory over Olympiacos in the 2010 Euroleague Final in Paris. Navarro scored a game-high 21 points in the final game and was named Euroleague Final Four MVP.

It was FC Barcelona’s second Euroleague championship, and Navarro has been a part of both titles.

He was a role player on the Barcelona team, anchored by MVP Dejan Bodiroga, that won the Euroleague title in 2003. Seven years later, Navarro has not only become the face of FC Barcelona – along with fellow Spanish superstar Ricky Rubio – but he has emerged as arguably the No. 1 player in Europe.

“I am very happy to be here. All our hard work has paid off,” the 30-year-old Spaniard told Euroleague.net. “We did a very good job and I am very happy for my teammates. We stepped on court ready to play such an important game.

“My first Euroleague title was special because it was the first for the club, but being a more important player this time, this is just as special, too.”

Navarro is a unique talent. He is not blessed with great size (listed at 6 feet 4 but probably closer to 6-2) and quickness, but he finds various ways to score. Not only is Navarro a great outside shooter, but he also has an unstoppable one-handed runner or floater that is very difficult to stop and frustrates defenders because it’s an off-balance, unorthodox shot on the move. The San Antonio Spurs’ Tony Parker and Chicago Bulls’ Derrick Rose have this shot in their arsenal, and more and more point guards are practicing it.

Navarro is currently participating in the 2010 FIBA World Championship in Turkey. When Gasol decided to skip the worlds and rest his body after a grueling NBA season with the two-time NBA champion Lakers, Navarro was named captain of the Spanish national team. He led Spain in scoring (16 points per game) during the preliminary round and shot 54% from the field – 40% from 3-point range.

Though Spain finished a disappointing 3-2 in Group D it still managed to advance to the round of 16, where it knocked out tournament heavyweight Greece, 80-72, in a heated game. Navarro made seven of 10 field goals against the Greeks, including a crucial 3-point shot with less than two minutes to play in the fourth quarter that sealed the victory.

Navarro had plenty of help in the game against Greece. Rudy Fernandez scored five of his 14 points in a 9-0 Spain run midway through the fourth quarter that pushed Spain’s lead from one point to 10 points. Fran Vazquez and Felipe Reyes combined for 12 points and 17 rebounds off the bench.

Spain advanced to the quarterfinals where it will face Serbia, which defeated Croatia 73-72 in the round of 16.

Dimitris Diamantidis and Nikos Zisis each had 16 points to lead Greece. After the game, Diamantidis told reporters that he is retiring from international competition.

Greece has now lost to Spain in the last four major FIBA tournaments. Spain defeated the Greeks in the final of the World Championship in 2006 and in the semifinals of EuroBasket in 2007. Spain also beat Greece in the preliminary round at the Beijing Olympics in 2008, and again defeated the Greeks in the semifinals in Poland last year.