St. Kilda was one of the ten inaugural, foundation teams of the NBL that competed in the league's first season in 1979, operating out of Albert Park Basketball Stadium at the time.

In 1981, after finishing the regular season in first place, the Saints decided to compete in the FIBA Club World Cup in Brazil rather than contest the NBL finals.

The team never regained this level of success, as they failed to qualify for the semi-finals for the rest of their tenure in the NBL.

[2][3][4][5] In 1987, the Saints changed their name to incorporate a wider area of Melbourne rather than just the suburb of St Kilda.

[7] Prior to the 1992 season, the Saints merged with the Eastside Spectres to become the South East Melbourne Magic.