Thirteen years after their previous promotion the club managed to do it again, this time managed by Bobby Saxton.

And that spell in the Third Division proved to be a much more successful one, lasting seven years, before dropping back into the basement division.

Exeter also enjoyed another memorable run in the FA Cup in 1981, again reaching the sixth round.   

In 1990 Terry Cooper's team won the Fourth Division Championship, but the club were back in the bottom Division four years later and facing mounting financial problems which culminated in November 1994, when the Club had to appoint Administrators to run their affairs. 

St James Park was sold to Beazer Homes for a figure of around £650,000. Exeter City Council stepped in to buy back the ground from Beazer at the end of the 1995-96 season and then leased it to the Football Club.

This was a way of maintaining League football in the city. With the club coming out of administration on 1st August 1996, the traumatic days were finally coming to an end and for the first time in many months the club at last were able to look to the future.

Finances continued to improve, and the club embarked on a redevelopment scheme for St James Park, which included the Big Bank end of the ground and the demolition of the Cowshed terrace to be replaced with an all-seater stand, together with refurbishment of the former St. James' School building into new offices, social club and corporate hospitality /conference and banqueting facilities.