[2] The club was founded in April 1892 to provide representation from County Londonderry in the Irish League.

The Derry supporters however stayed loyal and loud, and got their reward when Wilton scored the first goal for the club; however the game ended 8–1 to the home side.

[9] By the end of the season the Olympic had forfeited 4 out of the 10 matches, ostensibly due to a lack of a £6 guarantee gate-share in order to travel to Belfast; however by the end of October the Olympic had not paid its subscription to the Irish Football Association.

[11] Given the club's failure to attend matches, the Irish FA fined it £5, and ordered it to play its last home game against Linfield in Belfast, but it did not turn up, and "the last has been heard of this celebrated Derry Olympic team.

"[12] James Wilton brought a side together under the Olympic name for a handful of exhibition matches in October 1894.