The club was made up largely of players who used to play in higher divisions with a large number coming from the two most successful Thuringian clubs, FC Rot-Weiß Erfurt and FC Carl Zeiss Jena.

The club withdrew from the league during the 2011–12 season for financial reasons, became insolvent and eventually folded.

[2] Gera's most notable success was their advance to the final of the 2007 TFV-Pokal (Thuringian Cup) where they lost to FC Carl Zeiss Jena.

Despite their losing appearance, the team still qualified for the 2006–07 DFB-Pokal as Jena had already earned their place in that competition through their promotion to the 2.

FC Gera 03 played in the Stadion der Freundschaft which has a capacity of 16,800 spectators.