|Grindavik, champions of Iceland 2012|
U.M.F. Grindavik were crowned Icelandic champions after beating Thor Thorlakshofn 78-72 on Wednesday night.
Grindavik closed out the series 3-1, after taking a 2-0 lead in the finals.
The eventual champions went through the season with only three losses in the league, finishing with 19 wins and clinching the division title before heading into the play-offs.
However, two of the three losses came against Thor, so the finals were expected to be hard fought encounters.
People were not disappointed as all four games were close and filled with crowd pleasing action by both teams.
Grindavik power forward J'Nathan Bullock was voted MVP of the finals, finishing with an average of 21.2 points and 8.7 rebounds in 10 play-off games.
Helgi Jonas Gudfinsson, who had previously spent time with Dutch side Groningen and Antwerp in Belgium as a player, brought home the title in his debut season as a coach.
|Pall Axel Vilbergsson of Grindavik lifting the Icelandic championship trophy|
It was only the second championship for Grindavik, 16 years after the side had first captured the title.
Gudfinsson had then lifted the trophy as a player.
"It has been way too long since we won the title the last time" the coach said after the game.
"It is always good to win for your hometown," he added.
"I have to congratulate Grindavik. Their plan worked out. They put together a great squad for this season and Helgi got them to play together like a real team" stated Thor head coach Benedikt Gudmundsson after the game.
Thor were writing a new chapter in the basketball history of Iceland, being the first rookie team in the league to make it to the finals.
"No one was expecting anything from us in the beginning of the season, but that changed after the first few games" said Gudmundsson
"My guys can hold their heads up high after this season".