The team participated in the "Torneo de Navidad" (Christmas Tournament) organised by Spanish club Real Madrid.

Gimnasia finished 3rd (of 4) after beating Puerto Rico national team 87–82 and lost to Real Madrid (title holder) 83–64 and Joventut Badalona.

Some notable players were Fabián Horvath, Javier Bulfoni, Walter Storani, Roberto López, Boubacar Aw, and Pop Thorton.

Gimnasia was also runner-up in the 2003–04 Liga Nacional de Básquetbol's Primera División tournament, when it was defeated by Boca Juniors 4–2 in the final series.

[4][5] In the following season, the team was relegated to the TNA (Second Division) after president Juan José Muñoz decreased substantially the basketball budget, thereby causing the loss of its principal players.

To appear in this section a player must have either: Gimnasia y Esgrima plays its home venues at Polideportivo Víctor Nethol, a multi-purpose stadium with capacity of 3,000.