It's a bit late but I had to make it anyways. Didn't look at the schedule for the newly inaugurating Asian Champions League and thought that it would end within 2002! Like I said, I could be biased so please suggest your opinions. I could add a candidate. I'm feeling that I'm missing a lot of deserving nominees. the latest award winners: http://www.asian-football.com/scripts/runisa.dll?M2:gp:169672:39913+inside/awards/01/index Jubilo: J-League Champions Kyoto: Emperor's Cup Champions. They were in J2 last year! Seungnam Ilhwa FC: K-League Champions Al Hilal: Asian Cup Winners' Cup Champions Suwon FC: Asian Club Championship Champions, Super Cup Champions, FA Cup Champions(K-League).
I'd like to point out that not only were Jubilo J League champions, but that they were the first team to ever win both the first and second stages of J1 in a single season.
good point that Pakhtakor shined in 2003, but maybe it's because we weren't familiar with what they've done before that. AFC wrote "Pakhtakor were the AFC Club Team of the Year after winning the league and Cup double in Uzbekistan, and battling through six qualifying matches to reach the group stage of the inaugural AFC Champions League (and eventually reaching the semi-finals)." so basically, reaching the semi-finals of the AFC Champs League was just a reminder at the end of the above explanation. Still sounds a bit weaker reason than Suwon winning the ACC, Super Cup(match between ACC champs vs ACWC champs), and the K-League FA Cup. I guess the AFC weighed the inaugural AFC Champs League's qualifying stage more than the ACC championship, Super Cup championship and the local league FA cup.