1986–1997 Valencia Basket was founded on 27 September 1986, after
Valencia CF decided to fold its basketball section. On 4 May 1988, while in its second season in the Primera División B, which was the second-tier league of Spanish basketball at that time, the team won its first
promotion to
the Spanish top-tier level ACB, where the team remained until the
1994–95 season. In 1995, Valencia was
relegated to the Spanish 2nd-tier level
EBA League, after falling in the league's relegation playoff against
Somontano Huesca. In the next season, after being the runner-up in Liga EBA, in a non-promoting season, Valencia BC bought
Amway Zaragoza's ACB place to join the top league, where it has remained until nowadays.
1998–2014 On 2 February 1998, Pamesa Valencia won its first Spanish national title, after beating
Pinturas Bruguer Badalona, by a score of 89–75, in the final of the
1998 Copa del Rey, which was played in
Valladolid. One year later, on 13 April 1999, the club played in the final of the
1998–99 FIBA Saporta Cup, but was defeated by
Benetton Treviso, 64–60, in the final played in
Zaragoza. Three years later, the club repeated the same success, but
Montepaschi Siena won the final of the
2001–02 FIBA Saporta Cup, by a score of 81–71, in
Lyon, France. Continuing on with some of the club's best years, the
2001–02 ACB season was historic for the club, as it reached the Spanish
ACB League finals, where they could not win any games in their series against
FC Barcelona. Before this first success in reaching the finals of the Spanish league's playoffs, Pamesa Valencia won its first European-wide title, by defeating
Krka Novo Mesto in the
2002–03 ULEB Cup, which would then also allow the club to make its debut in the
European top-tier level EuroLeague. In its first EuroLeague participation, Pamesa Valencia qualified for the
Top 16, but was eliminated there, after not contesting its game at
Nokia Arena against
Maccabi Tel Aviv, adducing security issues in
Israel. On 18 April 2010, Power Electronics Valencia won its second European title, by beating
Alba Berlin, 67–44, in the
2010 EuroCup Finals, which was played in
Vitoria-Gasteiz. This allowed the club to come back to the top level EuroLeague, seven years after its first participation in the tournament. This time, Valencia reached the
EuroLeague quarterfinals, where it was eliminated by
Real Madrid, who won the playoff series by a 3–2 margin. The club's third
European-wide 2nd-tier level EuroCup title arrived on 7 May 2014, when Valencia beat
UNICS Kazan, in the
double-legged finals.
2015–present On 5 June 2017, Valencia Basket qualified for its second Spanish Liga ACB Finals series, after defeating
Baskonia in the semifinals of the
2017 national league playoffs. This time, the club won its first ever Spanish national domestic league championship, on 16 June 2017, by defeating
Real Madrid with a 3–1 series score in the ACB league's finals. In the same season, the club also reached the finals of both the
Copa del Rey (Spanish Cup), and the
EuroCup, but they lost those finals to Real Madrid, and fellow Spanish side,
Unicaja, respectively. By winning the Spanish League championship, Valencia also sealed their return to the next season's top-tier level
EuroLeague competition, for the
2017–18 season. The club's fourth
European-wide 2nd-tier level EuroCup title arrived on 16 April 2019, when Valencia beat
Alba Berlin, in the
double-legged finals. == Arena ==