Vålerenga has been the dominant force in Norwegian hockey since the 1960s, claiming 26 national championships and 29 regular season titles.

The team's interim head coach is former NHL player and club legend, Espen "Shampo" Knutsen, with Joachim Svendsen as his assistant.

A new generation had emerged, and players such as Jim Marthinsen, Roy Johansen, Geir Myhre, Tor Helge "Totto" Eikeland, Bjørn Kolsrud, Arne Billkvam and Jon Magne Karlstad would go on to become club legends.

Kent Forsberg became head coach in 1994 and invited his son Peter and Markus Näslund to play a friendly match for the club during the lockout season in the NHL.

The 20th national championship was won in 1999. Notable players from this era include Morten Ask, Kenneth Larsen, and Kjell Richard "Ricky" Nygaard, along with Swedish imports such as Johan Brummer, Patric Englund and Niklas Gällstedt.