[4] Due to a tragedy Rayo Vallecano turned out to be Laurie Cunningham's last club; he was killed in a car crash just outside Madrid in 1989, after a sole season.

They appeared to have consolidated their top flight status after gaining promotion in 1999, and the team's most successful season came in 2000–01 when they reached the quarter-finals of the UEFA Cup, going out only to eventual runners-up Alavés;[5] Rayo finished ninth in the previous campaign, but entered the competition via the fair play draw.

[7] Rayo finished the 2006–07 season in second place in Segunda División B, winning the promotion play-off semifinal but losing in the final to Eibar (1–2 aggregate).

[8] The following campaign, the team returned to division two after a four-year absence after a victorious run in the playoffs, disposing of Benidorm in the semi-final and Zamora in the last game 2–1 on aggregate.

In 2010–11, the team ranked in second position and returned to the top flight after an eight-year absence, only trailing champions Real Betis in spite of very serious economic problems.

[10][11][12] In March 2014, Huawei agreed to sponsor Rayo Vallecano for two league matches against Real Madrid and Athletic Bilbao.

[20] On 20 March 2019, the club appointed Paco Jémez as head coach,[21] and on 4 May, Rayo was relegated back to the Segunda División after losing 4–1 to Levante UD, eventually finishing last.

[25] In February 2022, Iraola's side defeated RCD Mallorca to make the semi-finals of the Copa del Rey; it was the second time in club history and first since 1982.

Affiliate of Atlético Madrid in 1949–50 Regional Titles Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.

Last updated: September 2022Source: Rayo Vallecano Note: this list includes players that have played at least 100 league games and/or have reached international status.

Opened on 10 May 1976, at first it was called "New Stadium Vallecas", but in January 2004, 13 years after the arrival of the Ruiz-Mateos family in 1991, it changed denominations, as the wife was also named by her husband, businessman José María, the first woman president of an elite football team.

Rayo Vallecano and particularly coach Paco Jémez were touched by her story, and subsequently offered to fund Martínez for the foreseeable future.

[33] In February 2017, Ukrainian player Roman Zozulya left the club after one training session due to chants of "Nazi" by Rayo fans accusing him of belonging to far-right groups; Zozulya denied ever belonging to any far-right groups, and immediately returned to his parent club Real Betis.