At the EuroBasket 1997, Greece once again started the tournament with very high ambitions, and a victory against title contender Russia, in the qualifying group raised their hopes even higher. Alvertis’ role on the team remained unaltered, as he remained a secondary, but significant option on offense, averaging 6.9 points per game.Basket Stats website, Fragiskos Alvertis' EuroBasket 1997 statistics. Greece eventually fell to the tournament's eventual champions, FR Yugoslavia, in the semifinal, losing by a score of 80–88. The Greek team finished in fourth place, losing the bronze medal game to Russia, by a score of 98–78.
