 Consequently, the rights of the club were sold to a new sponsor based in Yerevan in August 2001, and Araks Ararat FC was dissolved.At the end of 2001, another football club with the name of FC Araks was founded in the town, in an effort to keep the football traditions alive among the new generation of Ararat.However, after 4 years of major difficulties, the financially struggling club was dissolved in 2005.