[1][2] The club is located in Neo Faliro, Piraeus, which is about 7.4 kilometers (4.6 miles) from Athens, Greece.

In response to that, the senior Olympiacos Piraeus team refused to play in any Greek competitions going forward.

For the team's first season, Dimitris Tsaldaris was hired as its first head coach, with Nikos Barlos working as his main assistant.

The team's first player signings were Vangelis Tzolos, Andreas Petropoulos, Vassilis Christidis, Alexandros Nikolaidis, and Petros Noeas.

However, due to the Hellenic Basketball Federation's punishment of a deduction of 6 points (3 wins), the team was dropped down to a sixth place finish in the league's final standings.

Olympiacos Basketball Club B plays its home games at the Peace and Friendship Stadium's Training Facility, which is located in Neo Faliro, Piraeus, Athens, Greece.