It was initiated by football agent Terje Simonsen (from Moster) and professional footballer Kjetil Løvvik. They invested in a new club, with Simonsen owning 51% and Løvvik 49%. The merger between the senior teams of Stord IL (Third Division) and Moster IL (Fourth Division) was a five-year plan to relegate to 1. divisjon, and farm out players to other clubs. Stord was to be designated the league playing team, and Moster the reserve team to play at the Moster home field. The goal had a failed conceptual predecessor with Stord IL, IL Trott and IL Solid. Simonsen was criticized for focusing too much on profit. In November 2002 the extraordinary annual convention of Stord's football section approved the plans, The club was founded on 18 December 2002. Chairman of the board was Kristian Innvær, and head coach was Magnar Aaland. He resigned in pre-season in February 2003. Assistants Eivind Egeland and Øystein Djuve were the replacements. Egeland soon resigned to pursue a non-football career in Hommersåk. Soon after the Icelander Kristinn Atlason was hired as head coach. When both Djuve, the physical coach Tore Hammer and the two junior team coaches Jørgen Hammersland and Tore Atle Sørheim resigned in April, Simonsen himself took over as junior team coach.