A similar situation has now arisen in Austria: after Red Bull hijacked the old SV Austria Salzburg club in order to get its hands on a Bundesliga license, fans of the old club have founded a new one that has started play in the Austrian 7th division and carries on the tradition of the original SV Austria Salzburg. I'm not sure whether this club is legally considered to be the same SV Austria that existed from 1933 to 2005, but it looks that way, as the logo, colors and founding date are those of the old club. They're doing well so far - third in the table with a goal differential of 43:2. Furthermore, they get about 1,000 fans at each game (including away games, which are all close to Salzburg as the 7th division is more or less a local league), which dwarfs the attendance of the other teams in the league. Here's the homepage, which is very informative if you can read a little German: http://www.sv-austria.at/geschichte/geschichte5.php And here's a thread I started on the Austria/Switzerland boards: https://www.bigsoccer.com/forum/showthread.php?t=418428
Good for them. Having read a few articles about how Red Bull had thrown money into the club and signed Trap and Mattheus I was pleased to see they got dumped out of UEFA by Blackburn.
As was I... there is very little Austrian about Red Bull Salzburg now, as they also replaced almost all of the players with past-their prime Germans.