New Delhi, May 25 -- Olympiakos clinched the EuroLeague basketball title on Sunday, beating Real Madrid 92-85 despite a late stretch of mistakes.

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. Evan Fournier sparked the comeback with an 11-point burst in the second quarter.

Olympi...