History
The team was founded in 1994, after old CB Canarias, with huge financial problems, merged with other teams of the island to create the new Tenerife Canarias, who only played two seasons in Liga EBA, when this league was the second tier in Spanish basketball.
People who were disagree with this merge, created the new CB 1939 Canarias, which inherits the colors and the logo of the club. In 2012, Iberostar Canarias promotes to Liga ACB after being the champion of LEB Oro, but finally the club couldn't promote due to the impossibility of obtaining the requirements requested by ACB. One month later, on 20 July 2012, CB 1939 Canarias achieved the vacant berth in ACB after the league bought the spot of CB Lucentum Alicante.
Read more about this topic: CB 1939 Canarias
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