Bray Wanderers went into decline in the mid-thirties but was reformed in 1942–43 and entered the Athletic Union League Division 3 for the 1943–44 season.

In 1944 the club reached the Leinster Football Association Shield final but was disqualified for fielding an illegal player in the semi-final.

[15] The following season, finishing sixth in the Premier Division, the club gained a place in the all-Ireland Setanta Cup, but early in 2012 conceded home and away matches to Glentoran FC in the first round of the competition (2–4 & 0–3).

In 2013, Bray were again in the relegation mix, and having finished second-last they played First Division promotion play-off winners Longford Town over two legs, winning 5–4 on aggregate.

[18] On 1 April 2015, Mathews resigned suddenly, together with the rest of his backroom team, citing a breakdown in communication with the club's new owners: Gerry Mulvey & Denis O'Connor, who had taken over during the off-season.

The 2018 season went badly for Bray, with the club losing 28 of their 36 league matches and exiting every cup competition at the first time of asking.

On 26 July 2018, after several weeks of speculation over Bray's future, the club was taken over by St. Joseph's Boys academy director Niall O'Driscoll.

[28] Bray were officially relegated to the League of Ireland First Division in October 2018, ending a 12-year stay in the top flight of Irish football.

[30] The newly created team would be known as Bray Wanderers and continue to play in the Carlisle Grounds, with the intention to apply for a First Division licence.

[32] There was even a substantial drop in attendance at the Carlisle Grounds at one point, as Bray experienced one of the worst seasons in their history, going from a title challenging side to one near the bottom of the table.

[37] In March 2023, Bray progressed to the semi-final of the Leinster Senior Cup with a 2–1 victory over reigning League of Ireland Premier Division champions Shamrock Rovers.

[38] Assistants Lorcan Fitzgerald and Paul Heffernan took charge of the club and oversaw an upturn in results, raising Bray to third in the table.

After going 2–0 down early on Bray pulled one back through Conor Knight's deflected shot before Cole Omorehiomwan scored a last minute header to level at 2–2 and force extratime.

[40] In front of over 5,000 spectators, Bray lost 3–1 to Drogheda United at Tallaght Stadium ending their promotion hopes.

The current ownership of the club is as follows:[41] Up to 2022, Bray Wanderers had a small, but loyal fanbase, with annual average attendances generally around 700–1000 home fans.

For away matches the Bray Wanderers Supporters Club organise a bus to run direct to the relevant ground.

In March 2008, the Ultra group of Bray Wanderers fans, "Na Fánaithe",[44][45] was formed by five members of the supporters club.

[citation needed] In July 2022, Bray Wanderers fans formed a new supporters club, the "1985 Seagulls" group.