The story:
400 years ago, the first Phantom inaugurated the first Jungle Olympics in an effort to replace jungle warfare with sports. The games are still held, this year with the mighty Llongo as the holders of the magnificent Phantom Trophy. It awaits this year's winners in the Llongo village whilst the rest of the jungle prepares for the demanding day and night games.

Meanwhile, the two fugitives Spike and Grunt join forces with a local gangster outfit to steal the trophy, despite the trophy being jinxed and all previous thieves having met a violent death. Undeterred, the thieves succeed and the Phantom has to act fast to prevent a jungle war...