Until 1961, Preston were usually members of the First Division but, having been relegated after the 1960–61 season, they have not yet returned to the top flight. They were first relegated to the Third Division after the 1969–70 season and have spent 28 of the 49 seasons since 1970 in the bottom two divisions of the Football League, including a span of 19 seasons from 1981-1982 to 1999–2000. Preston has faced serious financial issues and was twice in danger of closure. The club is now owned by businessman Trevor Hemmings and has been established in the EFL Championship since gaining promotion in 2015.