[3] The president of Toulouse FC is Damien Comolli, who succeeded the French businessman Olivier Sadran who took over the club following its bankruptcy in 2001 which resulted in it being relegated to the Championnat National.

The club has served as a springboard for several players, most notably the World Cup-winning goalkeeper Fabien Barthez, international strikers André-Pierre Gignac, Martin Braithwaite and Wissam Ben Yedder.

A side containing Jacques Santini and Swiss forward Daniel Jeandupeux earned a penalty shoot-out victory against Diego Maradona's Napoli in the 1986–87 UEFA Cup, Toulouse's maiden European campaign.

Toulouse were back in the top flight two seasons later, and in 2007 they finished third to earn a place in the 2007–08 UEFA Champions League third qualifying round.

[6] On 6 January 2020, Toulouse dismissed manager Antoine Kombouaré following the club's 1–0 loss to Championnat National 2 side Saint-Pryvé Saint-Hilaire in the Coupe de France.

[7] On 30 April that year, Toulouse were relegated to Ligue 2 after the LFP elected to end the season early due to the coronavirus pandemic.

[10] On 29 April 2023, Toulouse won its first-ever Coupe de France title, defeating Kombouaré's Nantes in the final by a score of 5–1.