By winning the double in 1999, KÍ reached a total of 17 league titles, a record at the time. KÍ didn't win the league title again until 2019, and although it held the honour of having won the most league titles since the 1950s, it was surpassed by HB in 2004. Although the team signed former great Todi Jónsson and local Atli Danielsen in July 2009 for the remainder of the season, KÍ was relegated for the first time in the club's 105 year-long history at the time. Despite a slow start, they managed to return to the top league for 2011, when they finished fifth under the guidance of manager Aleksandar Đorđević.