In 2017 the administration of NK Veres Rivne and FC Lviv reached an agreement which led to "castling" swap of their teams in the national football pyramid.

The new entity was registered on 22 May 2006[2] as a company with limited liability (Ukrainian: Товариство з обмеженою відповідальністю) "Football Club "Lviv".

Later in May 2006 the PFL Bureau session adopted a decision to recognize the club as a lawful successor (Ukrainian: правонаступник) of FC Hazovyk-Skala Stryi that played in Persha Liha.

At the start of the next season, in the beginning of September 2007, the club moved to the newly built stadium Kniazha Arena in Dobromyl, west of Sambir.

[4] On 12 July 2012 the sports director of FC Lviv Rostyslav Zaremba confirmed that the club has been withdrawn from competitions due to financial issues.

[7] The club states that it was FC Lviv that placed 6th in the 2017–18 Ukrainian Premier League,[7] while the same claim for this achievement is laid by Veres Rivne.

This claim is particularly bold as in 2017 NK Veres Rivne, as a "people's club", had a big scandal with its promotion ahead of FC Desna Chernihiv.

At the end of March 2024, the internet website "Ukrainskyi Futbol" interviewed a director of FC Lviv sports school (DYuSSh) due to recent rumors of his intentions to revive a professional team.

Earlier in July 2023, the head of the Association of footballers of Ukraine stated that actions of the PFC Lviv leadership fall under an article about swindle.