The club was founded by Swarovski. It was a split-off of FC Wacker Innsbruck. They got the license it adopted and the greatest part of the team. Under Felix Latzke they reached the semifinals of the UEFA Cup 1986/97. Under manager Ernst Happel it won the Austrian football champions of 1989 and 1990 and 1990 also the Cup. In 1992 the club was dissolved and the license came back to FC Wacker.