Safe for five seasons in the regional leagues, Palencia spent the first 17 years of its existence in Tercera División. From 1977 to 1979, the club achieved two consecutive promotions, thus reaching Segunda División (second division), where it competed for four of the following five seasons, finishing a best-ever fifth in 1982–83, just three points off the promotion zone.
Palencia Club de Fútbol disappeared in 1986 due to serious economic debts, with the club now in Segunda División B. Another team was founded in the city following its demise, CF Palencia, which came to compete several seasons in that same category.[1]
