From the 2004–05 season and after FIBA sanctioned the Euroleague and the ULEB Cup, the EuroChallenge was considered to be the 3rd strongest international professional basketball competition for men's clubs in Europe, after both the Turkish Airlines EuroLeague and the EuroCup (both of which fall under the supervision of Euroleague Basketball). Though, during the first two seasons of the competition's coexistence with the EuroCup, the EuroChallenge (under the name FIBA Europe League) was favored by Italian, Russian and Greek teams, making both competitions quite comparable in strength.
Starting from the 2004–05 season, FIBA recognized the Euroleague and the ULEB Cup, placing the EuroChallenge as the third most prominent European club basketball tournament for men, after the Turkish Airlines EuroLeague and the EuroCup, which are managed by Euroleague Basketball. Nevertheless, during its first two seasons alongside the EuroCup, the EuroChallenge (under the name FIBA Europe League) was favored by Italian, Russian, and Greek teams, making both competitions nearly equivalent in strength.