On 6 July 2009, Naftex Burgas stopped its existence. On 7 July the amateur football club Athletic was renamed to Neftochimic 1986 and was subsequently declared by the owners as a successor of the old team. It began playing in the 2009-10 Bulgarian V AFG, the third tier of football in the country, finishing 3rd in its debut season and barely missing on a promotion. During the following 2010-11 season the team finished second, completing a quick return to professional football.
At the conclusion of the 2011–12 B PFG the Sheiks barely missed on a place in the promotion play-off, finishing in 3rd place just two points behind PFC Botev Plovdiv. However, at the halfway stage of the 2012–13 B PFG they were on top of the division and get promotion for A PFG. On 27 June 2014 it was announced that the club was dissolved due to financial debts.
The club was founded in 2009 as Football Club Master. In their debut 2010-11 season, they finished first in the Regional Football Group Burgas and qualified for the South-East V AFG promotion playoffs. On June 19, 2011, Master defeated Rodopi Momchilgrad 7–1 to earn promotion to the South-East V AFG.
During the 2011–12 season the team finished 6th in the division, and in the following year barely missed out on promotion by finishing 3rd overall. In season 2013–14 they finished 2nd, after narrowly losing the title race to FC Sozopol. On June 19, 2014 the BFU confirmed Benkovski Byala's withdrawal from the 2014–15 B PFG and officially invited Master Burgas to take their spot as the 2nd placed team in the Southeast V AFG.
On June 22 the club announced it has accepted the invitation, and in addition will change its name to PFC Burgas and switch colors from red and white to blue and white, similar to the flag of Burgas.
On 7 January 2015 it's announced that PFC Burgas and the newly establish team SNC Neftochimic Burgas, claiming to be successor of PFC Neftochimic Burgas (2009–14), are going to merge in the end of the season and start the next season under the name PFC Neftochimic Burgas 1962. Neftochimic Burgas 1962 started the 2015–16 season in B Group on the place of PFC Burgas.