Four teams, representing four different countries, will be participating in the closing stages of the competition's inaugural season at the Pabellón Insular Santiago Martín Arena on the Spanish Canary Island.

Iberostar Tenerife will be joined by AS Monaco of France, Turkey's Banvit and Umana Reyer Venezia of Italy.

The draw for the semi-finals has been made with AS Monaco to play Banvit in the first match on April 28 before Iberostar Tenerife and Umana Reyer Venezia meet in the evening.

It is set to be a thrilling end to the season with all four teams realistic title contenders.

Iberostar Tenerife are currently third in the Spanish Asociación de Clubes Españoles de Baloncesto (ACB) League while Banvit occupy fourth spot in the Turkish Super League and are the recent Turkish Cup winners.

Umana Reyer Venezia find themselves second in the Italian Serie A and AS Monaco Basket are the current leaders of the French Pro A.

"We're very excited to have Tenerife host the first ever Basketball Champions League Final Four," said Patrick Comninos, the chief executive of the Basketball Champions League.

"We have witnessed the fervent enthusiasm of the club to organise this historical event and the passionate support of the local community.

"We are all thrilled to have the opportunity to award this Final Four to such an impressive environment, where the participation of four clubs that are currently ranked in top positions in four of the most competitive leagues guarantees a unique weekend for basketball fans across Europe."

The semi-finals will be played on April 28, with the third place play-off and the final scheduled for April 30.

A row concerning European basketball intensified following the launch of the Champions League tournament.

The issue caused controversy within the sport and saw the FIBA and the Euroleague Commercial Assets (ECA) clash over ownership of the European club game.

The FIBA Champions League is designed to replace the Euroleague as the top level European competition.