Olympiacos B

Olympiacos Basketball Club B, was founded as the reserve team of the Greek EuroLeague club Olympiacos Piraeus, in September 2019. The team was founded after the relegation of the senior Olympiacos team, from Greece's top-tier level Greek Basket League, down to the 2nd-tier level Greek A2 Basket League (Greek 2nd Division). That relegation was due to a punishment by the Hellenic Basketball Federation, for the senior team's forfeiture of several 2018–19 Greek League season and 2018–19 Greek Cup games. In response to that, the senior Olympiacos Piraeus team refused to play in any Greek competitions going forward. Therefore, the new Olympiacos B Development Team was formed, and it would compete in all Greek competitions instead.

For its inaugural season, the B Development team was registered into the Greek 2nd Division's 2019–20 season, taking the place of the club's senior team. The B Development team also took the senior team's place in the 2019–20 Greek Cup competition. While the senior Olympiacos team continued to function as a completely separate and different team, that competes only in the EuroLeague, which is Europe's premier continental-wide club competition. As a further punishment from the Hellenic Basketball Federation, the Olympiacos B Development Team had 6 points (3 wins) automatically deducted from their 2019–20 season's record, prior to the season's start.

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. The team played its first official game on 21 September 2019, in a 2019–20 Greek Cup game against Ermis Lagkada. Olympiacos B won the game, by a score of 64–58. On 3 October 2019, the club announced a naming sponsorship deal with Piraeus Bank.

Ultimately, in its inaugural season, Olympiacos B Development Team was eliminated at the Last 32 stage of the Greek Cup competition by Anatolia Thessaloniki, by a score of 91–76; and finished with a record of 17–4 in the Greek 2nd Division, which was the second best record in the league, behind only Charilaos Trikoupis' 19–2 record. 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.