The footbal section is part of a sports association which also operates swimming, basketball, first aid, table tennis, athletics and various other recreation activities under its umbrella.

The club recruited new players such as Lo Tak Kuen, Chan Jong Deng, and former Hong Kong Rangers star Chung Cho Wai.

This allowed Happy Valley to enjoy their greatest run of success to date, winning four league titles, two Hong Kong FA Cups and three Senior Shields between 1997 and 2004.

The team was led by notable players such as Cheung Sai Ho, Fan Chun Yip, Gerard, Lee Wai Man and Poon Yiu Cheuk.

During the same year on 5 May, the ICAC arrested Ling Cong, Niu Jianlong, Wu Haopeng, Yu Yang and one other former player on suspicion of bribery and match fixing.

During the club's spell in the Second Division, they were able to retain important pieces such as keeper Cheung Wai Hong while signing Yuen Kin Man and Giorgi Kobakhidze.

On 5 January 2014, Happy Valley were once again at the centre of match fixing allegations as seven coaching staff and players were arrested by the ICAC following a big 5–0 loss to Sun Hei.

[6][7] Officials entered the team's dressing room at Tsing Yi Sports Ground immediately after the loss and took the seven members in for questioning on suspicion.

Three days later, the HKFA postponed all of Happy Valley's for the next month pending the result of a hearing in which the club was to present to an Ad Hoc Committee that they were financially and operationally able to continue the remainder of the season.

Following successive relegations, it was decided that for the 2016–17 season, Happy Valley would loan players from Tung Sing and Chelsea Soccer School (HK).

The decisions proved to be very successful as Happy Valley lost only one league game all season en route to the Third Division title.