The club finished the 2019–20 season in 7th, qualifying for their first-ever European appearance, in the UEFA Europa League,[2] where they were quarter-finalists.

In 1983–84, they finished 8th among 20 teams in the Segunda División, just 10 points away from the champion the Real Madrid Castilla and the runner-up the Bilbao Athletic.

Granada spent most of the following seasons in the Segunda División B, and were relegated to the fourth tier in 2002–03, due to failing to pay its players under the presidency of Francisco Jimena.

[15] After four seasons in the fourth division, former Real Madrid president Lorenzo Sanz, along with his son Paco, arrived at the club.

In the 2005–06 season Granada won Group 9 of the Tercera División and qualified for the promotional play-offs, where the first rival was Linense.

The president Paco Sanz, with the massive support of the fans, continued to lead the project with the intention of bringing the team to the top division, but the lack of time after the promotion led to hasty actions.

[18] At the end of the season, Granada won its group and then got promoted by beating Alcorcón in the play-offs, returning to the second division after 22 years.

[18] On 18 June 2011, the club became the first winner of the promotion play-offs – a different system was used from 1985 to 1999 – after successively defeating Celta de Vigo (1–1, penalty shootout) and Elche (1–1 on aggregate, away goals rule), thus returning to the top division after a 35-year absence.

[20][21] In June 2016, Chinese businessman Jiang Lizhang became the new owner of the club, buying the Pozzo family's controlling stake.

[23] Under new manager Diego Martínez, Granada returned to the top flight as runners-up to CA Osasuna in the 2018–19 Segunda División.

[24] The following season, the team finished 7th in the top flight, earning qualification for the UEFA Europa League, the first time the club qualified for any European competition.

It also reached the Copa del Rey semi-finals for the first time in 50 years, narrowly losing to Athletic Bilbao on away goals after a 2–2 aggregate draw.

After achieving promotion to the First Division in 2019, the stadium has been renovated,[30] such as the replacement of the playing surface, the repairing and painting of seats plus the addition of white seats to form the words "Granada CF" across from the main stand and "1931" on the South Stand, the expansion of the official club store (now located on the corner where the old tickets office was located), and finally, the replacement of the illumination system in line with the lighting requirements of LaLiga.

In addition, the club is working with Granada's council to get a deal for a long-lasting tenancy with the aim of performing a series of investments[31] like a re-build of the stadium corners (which had been previously dismantled), establish shopping and entertainment zones or the expansion and refurbishment of sponsor and advertising areas.

After the Spanish Civil War the club owners went to Madrid to buy new ones, but they couldn't find other than red and white striped shirts.