 Luton Town 's most recent successful period began in 1981 – 82 , when the club won the Second Division , and thereby gained promotion to the First . Luton defeated Arsenal 3 – 2 in the 1988 Football League Cup Final and remained in the First Division until relegation at the end of the 1991 – 92 season . Between 2007 and 2009 , financial difficulties caused the club to fall from the second tier of English football to the fifth in successive seasons . The last of these relegations came during the 2008 – 09 season , when 30 points were docked from Luton 's record for various financial irregularities . Luton thereafter spent five seasons in non @-@ League football before winning the Conference Premier in 2013 – 14 , securing promotion back into the Football League . 
