Although named as an island it is in fact a peninsula and a former spit serving as a left-bank of a former Pochaina River that with time transformed into several oxbow lakes located in Obolon (see Opechen lakes).
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.
On 21 February 2013 FC Obolon Kyiv withdrew voluntary from the Ukrainian First League after Obolon CEO Slobodyan had refused to finance the club after goalkeeper Kostyantyn Makhnovskyi was sold by the club without his consent.
It has been suggested by Geophysicist David Rowley of the University of Chicago, working with John Spray of the University of New Brunswick and Simon Kelley of the Open University, that the Red Wing crater may have been part of a hypothetical multiple impact event which also formed the Manicouagan crater in northern Quebec, Rochechouart crater in France, Saint Martin crater in Manitoba, and Obolon' crater in Ukraine.
Yakovenko is product of youth team systems of FC Arsenal Kyiv, but in July 2010 transferred to other Kyivan club Obolon.