In 2000 a local company of Petro Arsenyuk bought out a local team and a stadium. The same year the team won the Khmelnytskyi Oblast football competitions in the regional second tier.
The club entered the professional leagues in 2001 with help of former players Serhiy Kovalets and Ihor Khiblin (also a referee). The club was initially successful finishing in 3rd place in the Druha Liha Group "A". The same season they were crowned champions and were promoted to the Persha Liha for the 2002–03 season. On Saturday 9 August 2002 Krasyliv visited Khmelnytskyi as part of Round of 64 of the 2002–03 Ukrainian Cup. They beat the home team Podillia on penalities 5-4 after regulation time ended in a 1-1 tie. This regional derby match was principal in the way that the previous season Krasyliv left Podillia behind winning the Second League and gaining promotion to the First League.
The club, coming from a small provincial town was under financial duress and in 2003–04 they forged a union with Obolon and became their farm club under the name Krasyliv-Obolon.
Before the next season started FC Podillya Khmelnytskyi who finish 2nd in the Ukrainian Second League 2003-04 season merges with Krasyliv-Obolon and moves the team operations from Khmelnytskyi to Krasyliv prior to the start of season.
Following the 2006 mayoral elections of the Khmelnytskyi City and election of new mayor, a conflict arose between the head of club's council Oleksandr Arsenyuk and the newly elected mayor Serhiy Melnyk.
- 2001/02 Champions Group A
- 2000 Champions
League and cup history Edit
|2000–01||3rd "A"||3||30||19||5||6||53||25||62||1/16 finals Second League Cup|
|2001–02||3rd "A"||1||36||28||4||4||70||21||88||1st Round||Promoted|
- «Парадиз» в центре ада, или На заре капитализма в Красилове. day.kyiv.ua. 11 February 2000
- "Поділля" програло "Красилову". zt.20minut.ua. 14 August 2002
- Глибока криза хмельницького футболу. vsim.ua. 22 September 2006
- Петро АРСЕНЮК: «Одна з моїх цілей — відродження професіонального футболу на Хмельниччині». ukrfootball.ua. 14 October 2014
- The PFL deducted 12 points for various infringements during the course of the season
- After the season, the club which was administered in Krasyliv, was dissolved because of lack of finances. A new club FC Podillya-Khmelnytskyi had been formed and entered the Druha Liha Group A competition
- Order of the PFL Central Bureau of July 13, 2004. PFL website.
- Mykhailo Vasylevskyi. "Paradiz" in the center of hell, or At the dawn of Capitalism in Krasyliv. The Day. 11 February 2000
- Oleksandr Travyanka. Petro Arsenyuk: One of my goals is revival of professional football at the Khmelnytskyi region (Петро АРСЕНЮК: «Одна з моїх цілей — відродження професіонального футболу на Хмельниччині»). Ukrayinskyi Futbol.