1971-72 League champions
- Austria Klagenfurter AC
- Bulgaria CSKA Sofia
- Czechoslovakia Dukla Jihlava
- Denmark Kobenshavns SF
- Finland Ilves Tampere
- France HC Chamonix
- West Germany Dusseldorfer EG
- East Germany Dynamo Weiswasser
- Great Britain Murrayfield Racers
- Hungary FTC Budapest
- Italy SG Cortina
- NHL Boston Bruins
- Netherlands Tilburg Trappers
- Norway Hasle/Loren
- Poland Podhale Nowy Targ
- Romania Dinamo Bucuresti
- Soviet Union CSKA Moscow
- Sweden Brynas IF
- Switzerland Chaux-de-Fonds
- Yugoslavia Olimpija Ljubljana