History of Luton Town F.C. (1970–present) – the side was promoted to the top-flight in
1981–82 and won the
1987–88League Cup Final with a 3–2 victory over
Arsenal. The club stayed in the top division until 1992, before inconsistent performance and financial uncertainty saw Luton
yo-yo between the divisions during the 1990s and 2000s. The
2006–07 season marked the beginning of a collapse that would make up three successive
relegations. The third of these, from the fourth-tier
League Two to the
Conference Premier at the end of the
2008–09 season, resulted largely from the deduction of 40 points over the previous two seasons for various financial irregularities.
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