BK Wolves

The club was founded on 2 June 2022, with the name Wolves referring to the mythical Iron Wolf and the founding legend of the city of Vilnius. The license of Dzūkija Alytus was used starting from the 2022–23 LKL season.

LKL league expanded to 12 teams again, and a second basketball club appeared in the capital after over a decade. Nevertheless, some Lithuanian basketball communities view the club skeptically because it appeared in the top league based on monetary over-playing principles, and others because of the club owner's alleged connection with Russian businesses. Wolves claim its main objectives to be strengthening Lithuanian basketball, attracting solid players, raising co-competition between the LKL clubs, and upholding ambitions to reach the level of an elite European basketball club. After only two years of existence, Wolves have reached a place in Europe's second-tier club tournament, the EuroCup, but this was only achieved through monetary agreement rather than game principle.

On 5 July 2022, Rimas Kurtinaitis was officially announced as the head coach of the club. On 6 July, Adas Juškevičius became the first player signed in the club's history. Wolves also signed Lithuanian men's national basketball team players Eigirdas Žukauskas, Kristupas Žemaitis, solid LKL players like Regimantas Miniotas, Vitalijus Kozys, Arnas Beručka and longtime veteran, holder of multiple Lithuanian league records and former star of Rytas, Mindaugas Lukauskis, locally also known as the Iron man or the Legend. Marcos Delia became the first foreign player to sign a contract with the team, and soon after Ahmad Caver was the next one signed. The signing of Juan Gomez de Liano caused quite a stir in the homeland and Lithuania; he became the first Filipino basketball player to represent a European basketball club officially.

Wolves started their first official game in the Lithuanian Basketball League with an away win over Nevėžis Kėdainiai 81–76. The club participated in the 2022–23 FIBA Europe Cup qualifying round, its first-ever participation in a European competition. Wolves defeated the legendary Greek team Aris Thessaloniki 88–77 in the first round but lost in the second round to Bulgarian champion Rilski Sportist 91–76, losing the chance to qualify for the tournament. In the LKL, the club had struggles, but mainly due to the signings of Jeffery Taylor and Eric Buckner, they had risen to the standings. Wolves started a rivalry with Rytas Vilnius and also had competitive matches with long-time LKL champion and Euroleague participant Žalgiris Kaunas – scoring wins over both teams in February and the beginning of March. Wolves also defeated Eurocup participants Lietkabelis Panevėžys in the regular season series, which helped them reach third place in the LKL standings. Ahmad Caver in particular shined, as he was named the LKL MVP of the regular season. Wolves made late-season signings, Rashard Kelly and Jerai Grant, to strengthen the team before the playoffs.

In the King Mindaugas Cup, Wolves finished second in the qualifying round standings behind Neptūnas Klaipėda. The second-place finish, however, meant that during the draw for the quarterfinals, Wolves drew Žalgiris Kaunas. Žalgiris easily beat Wolves in Alytus, 95–79, and Kaunas, 91–72.

On 28 March 2023, Wolves fired head coach Kurtinaitis, with assistant Aurimas Jasilionis. The firing came after Wolves qualified for the European North Basketball League (ENBL) final four. They hired Kęstutis Kemzūra to replace Kurtinaitis, also hiring Marius Leonavičius and Nedas Pocevičius as his new assistants.

The club also got their second chance in a European competition, participating in the 2022–23 European North Basketball League, which started in November 2022. Wolves defeated Budivelnyk Kyiv in the quarterfinals, qualifying for the final four, while still under coach Kurtinaitis. Under coach Kemzūra, Wolves beat Wilki Morskie Szczecin 58–55 in the semi-finals. In the finals, Wolves lost to Stal Ostrów Wielkopolski 60-70, which prevented the team from winning their first championship.

Entering the LKL playoffs, Wolves faced CBet Jonava. The club won only one of their matches against CBet during the regular season. As CBet won against Wolves by 80-76 in an away series opener and finished them off in Jonava by 80-75.

Due to the reconstruction of its Avia Solutions Group Arena, the team played some home games in Alytus Arena, where they became very popular within the city.

On 24 May 2023, Jeffery Taylor renewed his contract with the club until 2025, with an option for an additional year. By joining the remaining core of the team: Adas Juškevičius, Eigirdas Žukauskas, Regimantas Miniotas, Kristupas Žemaitis, Vitalijus Kozys, Arnas Beručka.

On 17 August 2023, Jonas Valančiūnas joined the investors of the club.

The team had a 10-1 record in the local league at the start of the season. Rivals teams, such as Rytas and Žalgiris were defeated in the first round of the LKL, the only defeat after two overtimes was suffered by the Lietkabelis club, which also plays in the EuroCup. In that match, the young Latvian basketball star Artūrs Žagars suffered a very serious leg injury, causing him to be unable to play for the rest of the season. In the EuroCup tournament, the opponents did not promise such an easy walk, after the first round the club had four wins and the same number of losses. Wolves achieved a victory in Vilnius was achieved against the Beşiktaş Emlakjet club 90-88. In November 2023, Rasheed Sulaimon suffered an injury as Jeffery Taylor was ongoing rehabilitation, other players also dropped out as well. By the beginning of January 2024, Wolves had experienced nine losses in a row. The club broke its losing streak after winning the LKL match against Nevėžis Kėdainiai, the Eurocup team against Cedevita Olimpija.

On 21 January 2024, the club announced that it parted ways with the head coach Kemzūra, as he was replaced by the assistant coach Nedas Pacevičius.