A first-time finalist wrote its name into European basketball history as Hapoel Jerusalem defeated Real Madrid 72-83 at the ULEB Cup Final in Charleroi, Belgium. Hapoel overcame the most successful club in European history to become just the second Israeli team ever to lift a continental trophy. Almost 2,000 fans from Jerusalem, part of a sellout crowd of 6,500 at the Spiroudome, danced in the aisles to celebrate Hapoel's victory, which was based on a monster third quarter that saw their game-long lead soar to 15 points. Madrid rallied to within 5 in the closing minutes, but then ran out of time. Kelly McCarty, voted the final MVP, led Hapoel with 22 points, Will Solomon and Doron Sheffer added 15 each, while Tunji Awojobi had 12 points and 10 rebounds. Elmer Bennett led Madrid with 22 points. In addition to becoming the second ULEB Cup titlest, Hapoel earned the right to participate in the Euroleague in the 2004-05 season.

FINALS

Eliminatory
	Real Madrid	73-82
	Hapoel J.