Goalkeeper Ēriks Grigjans and midfield Andrejs Štolcers were both nominated the best in the league in their respective positions.
For the 1994 season, Olimpija acquired Latvia national team goalkeeper Oļegs Karavajevs.
The club finished in fourth place in the league, but won the Latvian Football Cup, after a 2–0 win against Dag Rīga.
In the league, they finished in ninth place from ten teams and after the season, the club became defunct.
In its management over the few seasons of the clubs, existence worked several of the most noted football managers in Latvia including Jānis Skredelis, Aleksandrs Starkovs and Vladimirs Žuks.