In the summer of 2005, the club was founded by the mayor of Burgas. Despite the protests of the owner of FC Chernomorets Ivaylo Drazhev, the new club was named OFC Chernomorets 919 and was named as a successor of the current then FC Chernomorets. At the same time, Drazhev formed another club in the capital Sofia under the name PFC Chernomorets Burgas Sofia which only lasted one season and reached many anti-records.
The team in 2012
After a one season stay in the amateur division, the club easily won the Bulgarian South-East V AFG with Dian Petkov as a head coach, finishing in the 1st place. In June, 2006, OFC Chernomorets 919 won the Bulgarian Amateur Cup. In the final at the Vasil Levski National Stadium, Chernomorets won with 4–0 against FC Benkovski Kostinbrod.
The same summer, Mitko Sabev, a famous Bulgarian oil magnate and owner of the rival football club in the city Naftex Burgas, bought the club from the municipality and renamed it to PSFC Chernomorets Burgas. (the club is registered in the Bulgarian Football Union as PFC Chernomorets Burgas and is known by that name to the people.) The football club was used as a reserve team for Naftex Burgas. And the owner appointed for manager the famous Bulgarian manager Dimitar Dimitrov.
In 2007, the Sharks won the East B PFG and were promoted to the A PFG. The next season Chernomorets finished 6th and qualified for the Intertoto Cup. In the second round, the Sharks defeated ND Gorica from Slovenia with 3–1 on aggregate to set up a third round clash with Swiss Grasshopper Zurich, but were eliminated with a 0–4 on aggregate.
Introduction for 2012/2013
In December, 2008, Chernomorets's owner appointed for manager of the football club the notable Bulgarian player Krassimir Balakov, after being sacked from FC St. Gallen. At the end of that season, Mitko Sabev dissolved Naftex Burgas and bought PFC Chernomorets Pomorie from Pomorie, making the new club from the nearby town a reserve team for the main football club.
On January 14, 2010, Chernomorets Burgas was named as the most progressive club in 2009 in Bulgaria. In July 2010, after differences between the owners of Petrol AD the clubs budget has been severely reduced and many employees from the staff has been released. However on 6 December 2010, Krassimir Balakov was released from Chernomorets Burgas after mutual consent. Second half of the 2010-11 A PFG season is a nightmare for Chernomorets Burgas and the collapses in eighth place by change two more coaches Anton Velkov and Georgi Vasilev.
Chernomorets plays its home games at the Lazur Stadium. Lazur Stadium is a multi-use stadium in Burgas, Bulgaria. It is currently used mostly for football matches. The stadium holds 18,037 people and it is 3 star rated by UEFA. The stadium was opened in 1967 and was renovated in 1997 and 2009.
Chernomorets Arena is a future modern stadium in Burgas, which is going to be the new home ground of Chernomorets Burgas. The new venue will be built in the place of the old home ground of FC Chernomorets, the Chernomorets Stadium, and will have a capacity of 30,000 spectators and a possible expansion to 55,000. It is scheduled to be opened in 2017. The construction will start in the summer of 2013, because of the current demolishing process of the old stadium and the global financial crisis, and will cost 500 million euros, making it one of the most expensive stadiums in Europe. The stadium will be probably rated with an elite ranking by UEFA and will host Champions League and Europa League matches in Burgas and Eastern Bulgaria.
In July 2009, the owner of the club announced an ambitious plan to build a modern sports complex for the club in the Sarafovo neighborhood of Burgas. The sports complex will be named Sharks Nest and will include two training pitches and one training pitch with artificial turf, an administrative building for the team and one building for the management of the football club. The construction of the sports complex started the same month and was finished in July, 2010 at a cost of € 20 million.
Up to one non-EU national can be registered and given a squad number for the first team in the B PFG. Those non-EU national with European ancestry can claim citizenship from the nation their ancestors came from. If a player does not have European ancestry he can claim Bulgarian citizenship after playing in Bulgaria for 5 years.