 The 2003-04 season presented many similarities to the previous one, as Panathinaikos remained in the Sporting Arena.Despite Alvertis averaging 11.2 points per game and providing veteran leadership in the locker room, his EuroLeague season ended again on an injury in the fourth game of the Top 16 against Barcelona.Panathinaikos was not able to reach further to the EuroLeague Final Four.