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The club was founded in late 2000 as FC Araks-Impeks in the Armenian capital city of Yerevan. After taking over the rights of the financially struggling Araks Ararat FC to play in the Armenian Premier League, Araks-Impeks took part in the 2001 Armenian Premier League. On August 20, 2001, in the middle of the ongoing season, Araks-Impeks changed their name to Spartak Yerevan. After the 2002 season, the club was dissolved and the players moved to FC Banants.