 Founded in 1947 as part of the Academic Sofia sports club, they have won the championship of Bulgaria 25 times and won the Bulgarian Cup 11 times.Among their international honours are two FIBA European Champions Cup finals (both lost to Rīgas ASK) in 1958 and 1959 and an International Students' Cup in 1957.In 2000, the team were renamed Lukoil Academic as a sponsorship deal was signed with Russian oil giant Lukoil, and quickly established themselves as dominant in the Bulgarian Championship.