The reserve team of Real Madrid was founded in 1955 as CB Fiesta Alegre but it had played games since 1931. Fiesta Alegre was also known later as Club Hesperia. With this name it played during three seasons in the Liga Nacional, the top Spanish league, and a final of Copa del Rey. Hesperia was the only reserve team which could play these games. Hesperia resigned to its place in 1960.
In 1998 the team was re-founded and continues competing nowadays despite a break between 2003 and 2006. In 2006, it started to play in LEB 2.