About four years after the parent athletic club, AS Monaco, was itself founded, AS Monaco Basket was founded in 1928. They finished as runners-up in the French top-tier Nationale 1 following the 1950 season, which is regarded as one of their greatest successes in their history. Monaco also won the LNB Pro B championship for the 1973 season, with one of the greatest offenses on the European continent. AS Monaco Basket joined the Nationale 1 for the 1973–74 season, where they finished in ninth place. They made their first appearance in the European 3rd-tier levelFIBA Korać Cup in the 1974–75 season, losing in the group stage to other notable teams such as ASVEL Basket, Levski Sofia, and Brina AMG Sebastiani Basket. They entered the same tournament again for the 1982–83 season, but lost out to Dynamo Moscow in the semifinals qualification battle in the Top 16 group stage, despite a far better finish in the tournament overall. Entering the 1980s, Monaco was in the process of securing their title as one of the most dangerous teams in French basketball. They reached the finals game of the French Federation Cup, losing to Limoges CSP, by a score of 96–81. The Red and Whites also became a threat in the LNB Pro A, what the league had been renamed to, after former NBA player, Robert Smith, joined the team in 1985. Smith was named the 1987 French League All-Star Game MVP. After Smith left the team, Monaco found themselves descending in the league. They were relegated to the second division LNB Pro B later in the decade, and eventually ended up in the Nationale 1 Division. They would not return to the LNB Pro A, the highest division of basketball in France, for many years to come. In 2014, AS Monaco Basket was crowned the champions of the French third-tier league, the Nationale Masculine 1, and they returned to the LNB Pro B. In the 2014–15 season, Monaco became the French 2nd-tier LNB Pro B champions, and they were finally promoted back to the top-tier league in France, the LNB Pro A. In 2015, the Ukrainian businessman and philanthropist, Sergey Dyadechko, became president of AS Monaco Basket. In the 2015–16 season, Monaco won the French Pro A Leaders Cup, after beating Élan Chalon in the finals, by a score of 99–74. Monaco player, Jamal Shuler, was named the French Pro A Leaders Cup MVP. In the 2016–17 season, Monaco returned to European-wide competitions, when it qualified for the Basketball Champions League. In 2017, the charity fund, DSF, founded by the club's owner, Dyadechko, became a sponsor of AS Monaco Basket.
