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The EuroLeague, now known as the Turkish Airlines EuroLeague for sponsorship reasons, was originally known as the FIBA European Champions Cup. It was founded in 1958 by the International Basketball Federation (FIBA) and was the top-tier European-wide professional club basketball competition. In 2000, the competition was renamed to the EuroLeague and has since been organized by Euroleague Basketball, a company owned by the participating clubs.