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Last year was 'a tough one' for City's Caldwell

Western Morning News

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January 08, 2026

WHEN Gary Caldwell was asked to sum up 2025 for Exeter City, he needed only three words: A hard one.

- DANIEL CLARK

Last year was 'a tough one' for City's Caldwell

Gary Caldwell after Exeter City's epic FA Cup clash with Nottingham Forest, which the Grecians lost on penalties

(Frankie O'Keefe/PPAUK)

It was a year where the Grecians secured a fourth successive season in League One, have embarked on two fantastic FA Cup runs, and enjoyed a memorable Devon Derby win over their bitter rivals Plymouth Argyle.

But off-field issues with a stadium fire at St James Park, and financial problems behind the scenes which have led to redundancies at the club and a cut from what is already one of the lowest playing budgets in League One have made life in Devon that much harder.

The Grecians began the year with a decision that could have seen the year pan out differently in two very different ways: the sale of the club's leading marksman in Millenic Alli.

The Irishman left on deadline day to join Luton Town for a fee of around £1.5m. At the time, City were only just above the bottom four, in the midst of a run of eight games without a win, and Alli was the leading goalscorer.

It was a gamble to sell the marksman, but that was a fee City couldn’t turn down - and given what transpired later in the year, one that financially they simply had to accept.

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