The chairmen of the two clubs from Larissa (Greece) AEL and Olympia, agreed upon a merge that will create a new and more competitive team as they declared while leaving the mayor's office.
AEL spawned just in 2006 after the basketball team of the Gymnastikos Syllogos Larissas merged with the football club of AEL 1964 to form a new club which included both the AEL 1964 football club as well as the Gymnastikos Syllogos Larissas basketball club. The Gymnastikos Syllogos Larissas basketball club was then re-named AEL 1964 GS after the merge.
AEL was relegated last season to the Greek second division (A2) after finishing last in the A1 with a record of 2-24. Olympia finished at the 11th place with a record of 8-18 avoiding relegation.
The prime goal of the new club is to find players and a Head Coach with Giorgos Kalafatakis, last season with PAOK, and Edu Torres, last season with Plus Pujol Lleida, being reported as possible candidates.