Rotor Volgograd, one of Russia's leading clubs in the 1990s and who famously beat Manchester United in the UEFA Cup 20 years ago, have been wound up after going bankrupt, the club said Thursday.
The team from the Volga region of Russia were competing in the second division in the southern zone, which is effectively Russian football's third tier.
Volgograd is one of the 11 host cities for the 2018 World Cup although Rotor did not play at the Victory Arena, which will have a capacity of 45,000 spectators.
"The Volgograd Region's administration have signed an official document concerning the bankruptcy of Rotor," the club's website stated.
In April a "new" amateur club, which will also be known as Rotor Volgograd, will take part in the Russian third division.
"Over time, the Volgograd Region's administration plan to turn Rotor Volgograd into a legally binding structure, which will allow them to compete at a professional level," the club added.
Rotor, founded in 1929, finished runners-up in the Russian Premier League in 1993 and 1997.
In September 1995 they knocked a United side containing the likes of David Beckham, Paul Scholes and Roy Keane, out of the UEFA Cup at the first round stage.
After a 0-0 draw in Russia, Rotor drew 2-2 at Old Trafford to go through on away goals.
In 2005 Rotor lost their professional status but were reformed a year later and have since been competing in the lower divisions.