(CNN) — The United States struck gold in Olympic men’s basketball with a 118-107 victory over Spain in the championship game on Sunday.

Dwyane Wade scored 27 points and Kobe Bryant added 20 as the Americans grabbed their first gold medal in the event since the 2000 Olympics.

Afterward, the entire U.S. team appeared at the postgame news conference, many of the players draped in American flags.

“If it wasn’t for the determination and the willpower that we have in each other, we wouldn’t have pulled through and gotten this win,” said LeBron James, who emerged as the leader of the team. “Much respect to Spain, but the U.S. is back on top again.”

They were made to fight all the way by the world champions who had been humiliated by 37 points by the U.S. in pool play.

“It is more important and more special than any championship that any of us will ever win,” Bryant said.

In a game so void of defense that it felt more like an NBA All-Star game than one with a title at stake, the Americans had too much offense down the stretch.

Bryant converted a clutch four-point play with 3:10 remaining, holding his finger to his lips to quiet the rowdy Spanish crowd behind the basket.

Wade added another 3-pointer that made it 111-104 with just over two minutes left, and American could finally relax after some technical fouls on Spain with 26 seconds left.

They celebrated at midcourt when it was over with “Born in the USA” blaring over the arena’s speakers.

“I’m proud of our guys. We played with great character in one of the great games in international basketball history, I think,” U.S. coach Mike Krzyzewski said.

The American team’s last gold came in Sydney eight years ago.

Since then, they lost at the world championships at home in Indianapolis in 2002; only managed bronze and had two losses at the Athens Olympics in 2004, and lost in the semifinals at the 2006 world championships in Japan.

Rudy Fernandez scored 22 points and Pau Gasol had 21 for the Spanish who were hoping to win their first Olympic gold.

“It wasn’t so much individual stuff and individual talent,” said Gasol, who is Bryant’s Los Angeles Lakers teammate. “It was more teamwork, probably well-directed by their coaching staff.

“I’ve seen the guys hungry and want to get back to the top. That’s what they’ve done. They were able to get to the top again and show that they should be in first place, but they had to work for it.”

The Americans had to pull together as the resilient Spaniards whittled a 14-point deficit to four with 2:22 to play.

“I think this is a testament to the system that (USA Basketball managing director) Mr. (Jerry) Colangelo put in place,” Bryant said.

“What you saw today was a team. Everybody wants to talk about NBA players being selfish, being arrogant, being individuals. Well, what you saw today was a team bonding together, facing adversity and coming out of here with a big win.”

Argentina won the bronze with an 87-75 victory against Lithuania.

Zou Shiming won China’s first gold medal in boxing after Mongolian light flyweight Serdamba Purevdorj retired early in the second round of their title bout with an apparent shoulder injury.

It was also China’s leading 50th gold medal of the games.

Badar-Ugan Enkhbat of Mongolia won the bantamweight gold medal, beating Yankiel Leon of Cuba 16-5, while Alexey Tishchenko of Russia secured his second Olympic gold, surviving a tight bout against Daouda Sow of France for an 11-9 victory.

Bakhyt Sarsekbayev of Kazakhstan won the welterweight title, upsetting Cuban favorite Carlos Banteaux 18-9. Light heavyweight Zhang Xiaoping added China’s second gold, beating Kenny Egan of Ireland 11-7.

Roberto Cammarelle of Italy won the super heavyweight gold, stopping Zhang Zhilei of China in the final round for his second Olympic medal. Cammarelle is the defending world champion and a bronze winner in Athens.

Peter Biros scored three goals to lead Hungary to a 14-10 win over the United States and a third consecutive gold medal in Olympic men’s water polo.

Hungary became the first country to win three straight gold medals in the sport since Britain in 1920.

The Hungarians stretched their Olympic unbeaten streak to 17 games, with the latest victim being an American team that surprised just about everyone by getting to the final.

The Americans kept it close early and had it tied at 9 in the third quarter. But the Hungarians pulled away down the stretch, scoring five unanswered goals and turning a close match into a blowout.

U.S. goalkeeper Merrill Moses even got benched during the spurt. But it wasn’t all his fault. Hungary scored on three counter attacks, essentially beating the Americans across the pool and getting one-one-one shots against Moses.

“They are well-coached, they’ve got good athletes and they beat us,” U.S. coach Terry Schroeder said. “They beat us good.”

The Americans (5-2) were content with returning to the medal stand for the first time since 1988.

Russia won their third straight Olympic gold in rhythmic gymnastics all-around group competition.

France defeated Iceland 28-23 to win the men’s handball gold — the last medal of the Beijing Olympics.

Nikola Karabatic scored eight goals Sunday for the French, who led 15-10 after the first half and never let Iceland come close in the second. Goalie Thierry Omeyer made nine saves in the first half to help France build their lead.

Iceland settled for the silver medal, still the nation’s best showing in any event since 1956. Iceland have won four medals at Olympics over the years, two silver and two bronze.

Spain beat Croatia 35-29 to take the bronze.

Ref :: http://edition.cnn.com/2008/SPORT/08/24/olympics.basketball/index.html