JFK Ventspils

Olimps was founded in 2005 because there were only seven teams in the top division of the Latvian football league. It was made up of young (U-21) players from Skonto-2, Liepājas Metalurgs-2 and Ventspils-2. In the 2005 season, they dropped from Virslīga. In 2006, they won 1. līga and returned to Virslīga. Despite finishing last in the 2007 Virslīga season, Olimps retained their place for 2008 thanks to the expansion of the league.

In 2007, Olimps got to the Latvian Cup final thus earning a place in the UEFA cup qualifiers for the upcoming season.

At the end of the 2008 season, the youth academy of the dissolved FK Rīga joined the club. Before the season, Olimps received the ASK prefix (Armijas sporta klubs), as it was supported by the Ministry of Defence, similarly to the club that existed in the 1920s and 1930s.

However, by 2009, due to the impact of Latvian financial crisis, the ministry dropped its funding. The team was dissolved in 2012, although legally the club still exists.