The highly anticipated draw took place at the FIBA Headquarters in the Patrick Baumann House of Basketball in Mies, Switzerland. The 24 teams vying for the 4 spots at the 2024 Olympic Games in Paris, the pinnacle of global basketball, participated in the draw. The prize for the winner of each group is a ticket to the Olympics.

The 4 groups of 6 teams consist of 19 teams that earned their place through performances in the recent FIBA Basketball World Cup 2023 held in the Philippines, Indonesia, and Japan in August and September. Additionally, other qualifiers were determined in qualification windows, where giants like Argentina (runner-up until then and the only team to win gold since the USA began playing with NBA players in Barcelona '92) were left out.

Although the schedules are yet to be confirmed, the venues and composition of the four groups are known. The FIBA 2024 Olympic Qualifying Tournaments will take place in the cities of Piraeus (Greece), Riga (Latvia), San Juan (Puerto Rico), and Valencia (Spain), as announced in the FIBA Executive Committee meeting held in Switzerland. The games will be played from July 2 to 7.

It is worth noting that seven countries have already qualified directly for the 2024 Olympic Games in the FIBA Basketball World Cup 2023: Germany and Serbia for Europe, Canada and the USA for the Americas, Australia for Oceania, Japan for Asia, and South Sudan for Africa. France is qualified as the host team, leaving 4 spots still available out of the 12 teams competing for gold in the streets of Paris.

The groups are formed as follows:

Venue: Spain

Group A: Lebanon, Angola, and Spain.

Group B: Finland, Poland, and Bahamas.

Venue: Latvia

Group A: Georgia, Philippines, and Latvia.

Group B: Brazil, Cameroon, and Montenegro.

Venue: Greece

Group A: Slovenia, New Zealand, and Croatia.

Group B: Egypt, Greece, and Dominican Republic.

Venue: Puerto Rico

Group A: Mexico, Ivory Coast, and Lithuania.

Group B: Italy, Puerto Rico, and Bahrain