The club was founded in 1903. It was immediately elected into Division Two of the Football League despite not having played a previous game. Promotion to the top tier followed in 1908 and the club won the FA Cup in 1911, its only major honour. After relegation in 1922 from Division One, the club spent 77 years outside the top flight until promotion to the Premier League in 1999. City stayed up, with a then record low of 36 points, in the first season in the Premier League. Relegation followed the following season. Since then a series of financial crises have pushed the club to the brink of closure. The financial pressures have resulted in two more relegations to its current position in League Two. They are the lowest-ranked of all former Premier League clubs.