 In March 1983, KFÍ finished first in its group in 2. deild karla and played Laugdælir, Breiðablik and Íþróttafélag Menntaskólans á Egilsstöðum (ÍME) in they playoffs for the 2. deild championship and promotion to 1. deild karla.According to the rules at the time, each team would play the other three once and the team with the best win-loss record would be crowned champions.KFÍ lost its first game to Breiðablik, 79–76, despite 29 points from Guðjón Már Þorsteinsson and 21 points from Jón Oddsson.