There are many myths related to the founders of the Olympic Games. As far as tradition goes, the gods were the first to compete in Olympia: Zeus defeated Saturn in the wrestling event; Apollo defeated Hermes in running, etc.
According to Mycenaean tradition, Pelops is considered the founder of the Olympic Games as thanks to the Gods for offering him victory after defeating Oinomaus. Another myth credits Hercules, a demigod as founder of the games. Hercules also...
founded chariot racing. Still others were accredited as founders of the games: Neleas, Pelias, Pissos, Oxilos (leader of the Doric tribe that settled in the area of the sanctuary in 1200 BC, among others.
The Olympic Games were founded in 776 BC, as shown in written sources and were finally abolished by Theodosius I in AD 383 after a total of 293 Olympiads.