The club, named Pallacanestro Virtus Roma competed in the first division of Italian basketball, the LBA, for decades until 2020, when it failed.

However, its standing later waned, and Virtus became less competitive in both Europe and the domestic LBA - which it had won in 1983 – before being voluntarily relegated to the Italian second division in July 2015.

Earning a place in the 1983–84 FIBA European Champions Cup (EuroLeague), Virtus went on to win the competition at its first try, with a Larry Wright led squad, that also had Clarence Kea, Renzo Tombolato, and Fulvio Polesello.

Wright was decisive in the EuroLeague Final against FC Barcelona, scoring 27 points, as Roma overturned a 10-point halftime deficit to win the decider.

A squad comprising Dino Rađa, Rick Mahorn, Roberto Premier, and Andrea Niccolai downed Scavolini Pesaro in the two-legged final.

During the 2002–03 season, Carlton Myers led the team to a 25–9 record in the Serie A (LBA), as Roma reached the playoff's semifinals.

[4] In a strange twist, Virtus Roma then went on to have an excellent season, unexpectedly, by their own admission, reaching the Serie A finals, which would earn it the right to return to the EuroLeague.

The cited motive for the move to the lower division, was an insufficient budget to be competitive at the higher level, and the desire to restructure the club based on a youth policy.

[11] On June 9, 2018, Virtus Roma reached a new deal with All Events SpA, the operator of PalaLottomatica, to play at the arena during the Serie A2 2018–19 season.