In early afternoon it was officially announced by the Euroleague that Torino will not be the host of the Final Four 2011 due to financial problems, The first candidates for hosting the event are already making their run through the media.
Istanbul seems to be the strongest candidate right now, and the hosting arena will be the newly built Sinan Erdem Dome, with a capacity of 16.000. The same arena will be hosting the second stage of the upcoming Eurobasket. Other candidates include Barcelona, Zagreb, London, Vitoria and Belgrade.
An official announcement is expected by the end of the week.