Serbia knocked defending champ Spain out of the world championship Wednesday when Milos Teodosic made a long 3-pointer with 3.1 seconds left for a 92-89 quarterfinal victory. Spain erased an eight-point deficit in the final 4 minutes to tie it on Marc Gasol’s basket with 25 seconds remaining. After a timeout, Serbia patiently ran its offense until Teodosic—1 of 7 on 3-pointers at that point—pulled up from straightaway, well beyond the arc. “He’s a great player and he has a great feeling for the big shot,” Spain coach Sergio Scariolo said. The Spaniards couldn’t get a final shot off, with Jorge Garbajosa losing the ball after a timeout. Serbia’s players celebrated at midcourt as Spain’s Sergio Llull kicked the ball deep into the stands. Read more: http://sports.yahoo.com/nba/news;_ylt=AhSJTYMW1j103teKi_umVdq8vLYF?slug=ap-worlds-spain-serbia