FC Magna Wiener Neustadt obtained the right to play in the First League due to the collapse of SC Schwanenstadt caused by financial problems.

SC Schwanenstadt's playing licence was taken over by Magna, who took their place in the First League.

On 19 May, Austrian-Canadian business man Frank Stronach, the founder of Magna International, was elected president of the club.

The club played its first ever league game on 12 July 2008 against relegated side FC Wacker Innsbruck and lost 0–3.

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