Deportivo Petare FÃ tbol Club ( until summer 2010 called Deportivo Italia FÃ tbol Club ) is a Venezuelan football club based in Caracas . Formed in 1948 as `` Deportivo Italia F.C. '' , the club after fifty years merged with `` Deportivo Chacao F.C. '' in 1998 , and was called Deportivo Italchacao for eight years . In August 1998 , Deportivo Italia and Deportivo Chacao F.C. , merged and changed their name to Deportivo Italchacao FÃ tbol Club , S.A. , in order to preserve the colors , the logos and the history of more than 50 years of Deportivo Italia .