In 1922, three years after the resumption of football following the First World War, the club was relegated to the Second Division, where it remained until regaining promotion in 1925. Relegated again in 1931, Manchester United became a yo-yo club, achieving its all-time lowest position of 20th place in the Second Division in 1934. Following the death of John Henry Davies in October 1927, the club's finances deteriorated to the extent that Manchester United would likely have gone bankrupt had it not been for an investment of £2,000 in December 1931 by James W. Gibson, who assumed control of the club. In the 1938–39 season – the last year of football before the Second World War – the club finished 14th in the First Division. During the war, the club participated in the Wartime League and the Football League War Cup, but in 1941, Old Trafford was damaged by German bombs and would not be fully repaired until 1949.