A total of 50 teams participated in the competition, 16 from
Alpha Ethniki, 16 from
Beta, and 18 from
Gamma. It was held in 6 rounds, including the final. An additional round was held between First and Second, with 2 matches, in order that the teams who progress would be 16. The Group stage featured 8 groups with 6 teams each, while 2 teams qualified without matches. For the first time, there were two-leg (home and away) matches in the group stage, thus each team played 10 games. Because the tournament began very early in the summer, in a period where teams should play preparation friendlies, the
HFF allowed at the 5 first matches a maximum of 7 substitutions, something unusual in Greece, for matches of an official competition. After the group stage, there were very interesting confrontations, after drawing elected "strong" pairs. In the round of 16,
Olympiacos eliminated
AEK Athens with two wins. The first leg in
Nikos Goumas Stadium was awarded to Olympiacos 2–0 in an eventful match that was abandoned against AEK Athens and while the scoreline was 1–1 at the time. In the second leg, at
Olympic Stadium, Olympiacos' home ground then, they shattered AEK Athens 6–1. In the same round, in
derby of Thessaloniki between
PAOK and
Aris, the black and whites were qualified with a 1–1 away draw and a 2–0 home victory. Remarkable in this round was also the qualification of
Panathinaikos against
Panionios with a 7–2 second leg demolition, while the first leg ended with a 1–0 win of Panionios. In the quarter-finals followed the
derby between Olympiacos and Panathinaikos. First leg ended 1–1 in Athens Olympic Stadium, while in the second leg the "reds" triumphed by 4–1 in
Leoforos Alexandras Stadium against their arch-rivals. More exciting were the semi-finals between Olympiacos and
Iraklis. Olympiacos with two victories, 1–0 away and 5–4 at home (in an impressive game where 10 minutes before the end the scoreline was 3–4), qualified for the final. The final was held in Nikos Goumas Stadium, Athens on 12 May 2001. A draw was preceded on 19 April to determine in which stadium and city the final would be hosted (Nikos Goumas Stadium at Athens or
Kaftanzoglio Stadium at Thessaloniki).
Olympiacos faced PAOK,
9 years after their last conflict in a cup final and for a 7th clash in total. Several days before the game, Olympiacos president
Sokratis Kokkalis made a memorable statement using a Greek expression that Olympiacos would lose the upcoming final only if the devil would break his leg (meaning that it was almost impossible to lose). However,
PAOK easily won the match 4–2 with an impressive performance and earned the trophy
27 years after their last success, in the same stadium against the same opponent. During the awarding ceremony, former goalkeeper of PAOK
Mladen Furtula and then member of the coaching staff whispered to
Sokratis Kokkalis that the devil did break his leg that day and Kokkalis responded with a laugh. The manager of PAOK,
Dušan Bajević became the first in history to win the trophy with three different teams, as je also won it with AEK Athens in
1996 and Olympiacos in
1999. ==Calendar==