The club's parent athletic association, OFI Crete, was founded in 1925. The club's men's basketball team won the championship of the Greek 4th-tier levelGreek C Basket League in 1998, and was promoted to the third-tier level Greek B Basket League. After that, it was relegated back down the Greek C Basket League, but it returned to the Greek B Basket League in 2008.
The next year, OFI was promoted to the 2nd-tier level Greek A2 Basket League, for first time. After a short fall back into the Greek B Basket League, the club returned to the Greek A2 Basket League, and remained there until 2015, when the club was withdrawn from the league due to financial problems.[1]
Arena
The club plays its home games at the 1,000 seat Vardinogiannis Sports Center.