Anyang Cheetahs become FC Seoul
SEOUL, March 19 (Reuters) - Anyang Cheetahs have changed their name to FC Seoul following their return to the South Korean capital, officials of the K-League club said on Friday.
The decision to move back to Seoul, after their departure in 1996, was approved last week and came in the wake of considerable public pressure for a K-League team to return to the city.
Seoul, with a population of more than 10 million, was home to several teams until the mid-1990s when they left after the league chose to focus on the provinces.
FC Seoul, owned by South Korea's second largest conglomerate, the LG Group, will pay five billion won ($4.26 million) to the Korea Football Association and 2.5 billion won to the K-League for the move.
The club was posting losses of more than 10 billion won a year while in Anyang, a satellite city close to Seoul, according to their website.
They got the green light to return to the capital after Pusan I.cons, based in South Korea's second largest city, withdrew their application to move north.