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Panathinaikos and Valencia have turned Game 5 into theatre

Panathinaikos and Valencia have turned Game 5 into Euroleague theatre, with drama, dislike, chaos, and a Final Four place on the line.
May 11, 2026

They are the two greatest words in European basketball; Game 5. Wednesday’s battle between Panathinaikos and Valencia is already historic for a range of reasons but it’s the drama behind this burgeoning Euroleague rivalry that has got a continent salivating. Emmet Ryan on what promises to be an extraordinary night.

The first two games teed everything up so well while leaving us all fearing it wouldn’t last long. Panathinaikos taking both of the opening clashes in Valencia in dramatic fashion had everyone’s attention.

Of course, it felt like we wouldn’t get to see this series come back to the Roig Arena. Surely the 7 time Euroleague champions would close out the deal? We all know what happened next and how the reactions from those involved have poured oil on the fire of this rivalry.




Characters welcome?

The quick recap of the not actually basketball bits. Dimitrios Giannakopoulos got suspended by Euroleague for three games for his actions in Game 2. The Panathinaikos owner said he was taking an indefinite leave from social media afterwards.

Ergin Ataman and Pedro Martinez both got ejected from Game 3, in the OAKA which Valencia won. A dramatic photo of the contrasting emotions in the moment led to fierce debate online about it being doctored.

Turns out the photo was real but slightly doctored. AI changed the number on the jersey of Nigel Hayes Davis and slightly adjusted the hair of others but all of this seemed to be to remove the watermark from Getty. Here’s the Getty original, no I’m not linking to the doctored pic.

After Valencia won Game 4, Giannakopoulos had one game left in his suspension. He ended his social media hiatus and now he wants Valencia to help him get Euroleague to lift that game from his ban. All normal stuff.


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So about the basketball

The narrative through this from just the on the court action has been incredible. There was Valencia’s extraordinary comeback that came up short in Game 1. The Nigel Hayes Davis moment capped an amazing Game 2.

Then, in Athens, Valencia came out swinging in Game 3, only for the Greens to just come up short in their fightback. Game 4 was a glorious hot mess when Jean Montero was just too much on the night for Panathinaikos.

There has been so little time to catch your breath in this series. No lead has been safe and, more importantly, no dreadful spell has proven completely fatal to either side. These are two heavyweights that are throwing everything at each other. In a fight like that, both sides are going to stumble.

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So we await Wednesday

My mother doesn’t know it yet but her dinner is going to be early on Wednesday. I’ve got to get back to mine in time for the start of this one. This series already had all-time potential after the first two games. With Valencia now matching Real Madrid’s feat by becoming the first side to go 0-2 down and then win twice on the road, business has gone up a level.

Anything barring a 20+ pasting and this series is in the books as a contender for the greatest in Euroleague history. The sheer amount of tension and just plain dislike that these two teams and fanbases have for each other add to it more.

Sport is nothing and that makes it mean everything. Panathinaikos want to qualify to play a Final Four at home. Valencia just want to make one for the first time ever. A roaring sea of orange will be faced down by an opposing head coach who feeds off their dislike. Everything about this screams chaotic nonsense and I’m awfully excited for it. You should be too.

May 11, 2026Emmet Ryan
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This post was published on May 11, 2026
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