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.
