[6] No domestic national selection could be imagined without seven or eight Zvezda's players and the first five featured Nebojša Popović, Tullio Rochlitzer, Aleksandar Gec, Ladislav Demšar, and Srđan Kalember.

Individuals from the political and business milieu close to ruling Democratic Party, such as Živorad Anđelković, Goran Vesić, and Igor Žeželj, took over key positions in the club.

Under Sagadin's guidance, Crvena zvezda entered the Adriatic League (a privately owned regional competition in which he holds ownership stake) for the 2002–03 season.

Besides Rakočević, the cup was won by Goran Jeretin, Vuk Radivojević, Milan Dozet, Miloš Mirković, Norman Richardson, Milko Bjelica, Aleksandar Đurić, Vladislav Dragojlović, Luka Bogdanović, Čedomir Vitkovac and Aleksej Nešović.

The team was coached by Dragan Šakota and featured the likes of Goran Jeretin, Milan Gurović, Gerrod Henderson, Miroslav Raičević, Larry O'Bannon, Igor Milošević, Vujadin Subotić, Nenad Mišanović, Vladislav Dragojlović, Čedomir Vitkovac, Vuk Radivojević and Pero Antić.

[11] Crvena zvezda had big ambitions for the 2012–13 season, bringing back Igor Rakočević for the 3rd time, and signing players such as DeMarcus Nelson, Elton Brown and Boris Savović.

The club had a very successful season in the European competitions, led by the new signings Charles Jenkins, Blake Schilb, Jaka Blažič and Boban Marjanović and had a record of 4–6 in the group stage of the EuroLeague.

In the playoffs, Zvezda triumphed over Partizan 3–1 in the semifinals,[23] and 3–1 over Cedevita Zagreb in the finals,[24] winning its first trophy in this competition and securing a place in Euroleague in the 2015–2016 season.

Williams, Marjanović, Kalinić, Jenkins, and Blažič left the club, and the roster was reinforced by Sofoklis Schortsanitis, Stefan Nastić, Ryan Thompson and Gal Mekel.

[39] Building on previous years tactics, Zvezda's trademark became its strong, aggressive defense, pressure on the ball, intercepting passes, steals and resulting fast breaks.

During the summer of 2017, the head coach Radonjić did not sign a new contract, and the club parted ways with no less than eleven players, including key figures in the last couple of years such as Simonović, captain Mitrović, Jenkins, Jović, Kuzmić, and Gudurić.

Management terminated contract with Dylan Ennis and Milko Bjelica, and reinforced squad with Filip Čović and young prospect Aleksa Radanov from FMP.

The modified team managed to win the Superleague title, beating FMP in the finals, but the season was generally deemed to be unsuccessful due to failure to secure a spot in Euroleague.

[51] Tomić struck a great balance between hard defense and versatile offense, causing team to grab the first spot at the beginning of ABA League, as well as EuroCup Group A.

Zvezda ended the 2018-19 EuroCup season in Top 16 stage, reaching third out of four places in group G. Mid-February roster was strengthened by signing experienced guard K. C.

[60][61] Club management reacted at the end of December, hiring Dragan Šakota as a coach and reinforcing squad with Vladimir Štimac and Kevin Punter.

[68] However, the team performed below expectations, winning only 5 out of 16 games in Euroleague opening stages and losing in ABA to another title contender KK Budućnost, so coach Obradović and the club decided to part ways.

Once again putting a heavy emphasis on defense and transition, Zvezda won MagentaSport Cup preseason tournament[70] by beating Panathinaikos and home side Bayern, but Aaron White suffered a broken arm.

He started building a new squad by signing Zvezda's former star Nemanja Nedović, Ben Bentil, Jaylen Adams and Hassan Martin, added depth with veterans John Holland and Miroslav Raduljica, as well as young Serbian prospects Filip Petrušev and Dalibor Ilić.

In October the club completed a major transfer by bringing in Luca Vildoza,[74] and reached a mutual agreement to terminate the contract of underperforming Jaylen Adams.

[75] After a poor start in Euroleague (1–6) and an upset loss on a home court to Zadar in ABA league, Zvezda replaced coach Jovanović with Duško Ivanović.

[77] On-form Vildoza was chosen as the Euroleague MVP for December[78] In February Zvezda won the Serbian national cup, beating Borac, Partizan and Mega in process.

Uncharacteristically, Zvezda built a new squad early by bringing in no less than nine new players: Miloš Teodosić, Shabazz Napier, Joel Bolomboy, Mike Tobey, Ádám Hanga, Rokas Giedraitis, Yago dos Santos, Marko Simonović and Dejan Davidovac.

The results continued to suffer due to a string of injuries, as well as underperformance of Shabazz Napier as a key player, which led to a mutual termination of his contract.

The club also parted ways with Ognjen Kuzmić and Marko Simonović, and brought in Freddie Gillespie and a rising young star Nikola Topić.

Unfortunately, Topić got injured after only three games in Zvezda jersey, so the club had to reinforce its depleted roster by signing Javonte Smart and adding a recovering veteran Trey Thompkins.

Injury-riddled Zvezda managed to win another national cup in February by defeating Partizan in the final game, but kept underperforming in Euroleague, ending its campaign in 16th spot.

New reinforcements were the club icon Nikola Kalinić, Codi Miller-McIntyre, Isaiah Canaan, Ognjen Dobrić, Mike Daum and Uroš Plavšić.

Further notable home-grown players include Goran Rakočević, Ivan Sarjanović, Žarko Koprivica, Slobodan Nikolić, Predrag Bogosavljev, Boban Janković, Mirko Milićević, Branislav Prelević, Aleksandar Trifunović, Nebojša Ilić, Saša Obradović, Rastko Cvetković, Nikola Jestratijević, Miloš Vujanić, Vladimir Radmanović, Milutin Aleksić, Milko Bjelica, Luka Bogdanović, Tadija Dragićević, Nemanja Nedović, and Marko Gudurić.

Aleksandar Đorđević (one of 50 Greatest EuroLeague Contributors), Dejan Koturović, Marko Jarić, and Vladimir Micov were members of the club's youth system who have never appeared in a regular-season or playoff game for the first team.