The team was formed as a new company in 2000, taking over the Bundesliga license of SG Braunschweig. After multiple name changes during the team's early years, the Braunschweig-based fashion label New Yorker became the club's naming sponsor in 2006. In 2014 New Yorker announced to end its sponsorship after the 2013–14 Basketball Bundesliga season. On 1 July 2014, the team was renamed into Basketball Löwen Braunschweig.
The Löwen's home games take place at the 6,600 seat Volkswagen Halle, which opened in 2000. The team's predecessor SG Braunschweig had previously hosted its games at the 1,500 seat Sporthalle Alte Waage.