Íþróttabandalag Vestmannaeyja ( Icelandic pronunciation: [ˈiːˌθrouhtaˌpantaˌlaɣ ˈvɛstˌmanːaˌeiːja] , lit. ' Vestmannaeyjar Sports Union ' ), commonly known as ÍBV , is an Icelandic multi-sport district association from Vestmannaeyjar off the south coast of Iceland. It was founded in 1903 as Knattspyrnufélag Vestmannaeyja by Björgúlfur Ólafsson , military doctor for the Dutch army. It was soon renamed to Knattspyrnufélag Vestmannaeyja (KV) and then to Íþróttabandalag Vestmannaeyja (ÍBV) héraðssamband in 1945. ÍBV played as KV in the first Icelandic first league tournament in 1912 .
