Following the end of World War II, the Czechoslovak military began forming sports teams and regional and national competitions.

The speedway team and stadium was closely associated with the Czechoslovak police force and the speedway team started life known as Rudá Hvězda Praha (Red Star Prague).

It was not until the fall of Real socialism in the Eastern Bloc countries, that the club changed its name to Olymp Praha.

On 9 July 1990, the company called Autoklub Markéta at PSK Olymp Praha was established.

Continuing its connection with the police, the team raced as PSK (Policejní sportovní klub) Olymp Praha (and then Olymp Praha again) competing in the Extraliga.