The club was created in 1980, when basketball fanatics György Gráczer and István Németh with the support of the local wood industry Falco started to organize meetings and trainings.

In the next year they did surprisingly well, finishing on the top in the regular season with only two losses, but failed in the play-offs final.

A season later there was nothing what could prevent the yellow-blacks to lift the trophy in the final, and with that, after 27 years Szombathely got a top-flight basketball team again.

In the next year the team finished only 7th in the league but won silver medal in the Hungarian National Basketball Cup.

In 2006 Falco moved to the newly built Arena Savaria and Srećko Sekulović arrived to coach the guys.

In the 2007/2008 season Falco played unstoppable, the hard-work of Sekulović fructified and won the Championship title, first time in the club's history by beating arch-rival Körmend 3–1.

Since the league was cut short due to the COVID-19 pandemic, Falco gained the rights to join again for the 2020–21 season.