The official founding of the club took place in the end of October 1919, and gathering was led by Jovo Sretenović, Mato Vidović, Safet Hadžiefendić, Ljubko Simić, Niko Trifković and Petar Dugonjić.

[1] The men elected into the first Board of directors of the club were: Leonard Bancher, Mato Vidović, Niko Trifković, Stjepan Brkljačić and Alfred Puhta, Mijo Cuvaj and Ahmed Mandžić, Franto Bauzek (locksmith), Emil Kranjčec, Jakov Čurić and Petar Dugonjić, Franjo Miškovski, Safet Hadžiefendić, August Mot and Karlo Schwartz.

[citation needed] All the players were workers, and the Gorki first team had the following players: Mirko Veseli, Peri Mot, Karlo Krejči, Santo Altarac, Ivica Šifer, Franto Bauzek, Mijo Josić, Lorenc Ajhberger, Vili Zaboš, Slavko Zafani, Ahmed Mandžić, Alfred Puhta, Jozo Vikić, Malaga Mustačević, Dragoslav Stakić and several others.

Unlike these ethno-confessional clubs, FK Gorki was multiethnic and multicultural and accepted members of all faiths and ethnicities.

The first team of the sports section was: Karlo Mot, Nikola Kemenc, Suljo Nezirović, Alfred Puhta, Safet and Ešo Isabegović, Oto and Ivica Milinović, Josip Leder and Muho Mujezinović, Karlo Schwartz, Vlado Mileusnić, Jozo Kemenc, Rihard Žlebnik, Mujo Begić and many others.

Because of the discontinuation of several other Tuzla football clubs, like Obilić nad Bura, many players transferred to Sloboda and in 1928 it had a formidable team that consisted of the following players: Asim Mulaosmanović, Muho Mujeznović, Dejan Vujasinović, Mujko Mešković, Meša Selimović, Abdurahman Mujezinović Smrt, Vlado Mileusnić, Karlo Mot, Ivan Majer and others.

It is a very interesting fact that Mehmed Meša Selimović, one of the greatest Bosniak writers of all time, played in Sloboda at this period.

[citation needed] FK Sloboda is a club with very rich history in former Yugoslavia giving many star players such as Mesud Nalić, Omer Jusić, Rizah Mešković, Mersed Kovačević, Fuad Mulahasanović, Ismet Hadžić, Dževad Šećerbegović, Mustafa Hukić, Midhat Memišević as well as young players members of U-20 national team such as Isanović, Ćulumarević, Milošević, Hajrulahović, Jogunčić.

Next season saw Sloboda winning third place in League, top scorer was Nedim Omerović with 17 goals, same thing happens again in Cup, losing to Čelik.

Season 1998–1999 was turbulent one, by the end of first half of championship Sloboda was in relegation zone, on winter Mustafa Hukić took club over and made great success by reaching fifth place.

Number of great players played for team during these years such as Vedin Musić, Muhamed Konjić, Sakib Malkočević, Nedim Omerović.

Until March 2016, the team were on an 18-game unbeaten run in the Premier League of Bosnia and Herzegovina dating back to 18 November 2015.

The club's board changed when Azmir Husić decided to leave the chairman seat in September and was replaced with Senad Mujkanović.

However, through the 2017–18 Bosnian Cup, under the guidance of then manager Slavko Petrović, Sloboda made it all the way to the semi-finals, losing 4–1 on aggregate to eventual winner, Željezničar.

[5] On December 18, 2024, the club chairman, Azmir Husić, dismissed all players and the coaching staff mid-season due to unsatisfactory performance.

Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.