The club was a powerhouse of Russian bandy for decades. Eventually it declined and even was relegated to the second highest division. After it qualified for the highest division again at the end of the 2004–05 season, almost all players of the for a decade dominant Vodnik signed up for Dynamo Moscow, resulting in an immediate Russian League title in 2006. Dynamo Moscow won the World Cup for the first time in 2006, defeating Zorky in the final. The 2006 domestic title was followed by another four consecutive Russian championship titles and as one of the dominating teams in the following years too, until 2017, when they missed the championship play-off, only coming in at eighth place in the regular season league.