Series 8 starts just after Series 7, with the players still celebrating their Champions League qualification. Then when they find out the news that they have been relegated, the majority of the team wants out. However their new owner, Eli Knox, and their new manager, Don Barker, explain to them that if they leave they don't get paid for their efforts last season (they still have a two leg qualifying round before they have actually qualified for the Champions League). The players try to adjust to life in the Championship, with the help of two new signings - defender Frank Stone (signed from Wigan) and midfielder Tommy Valentine (on loan from Chelsea). Clyde Connolly causes problems - made to play central midfield against his will, at half time in the Dragons' opening match he switches positions with Tommy. The team lose one nil, and Don blames Clyde for the shock defeat.

As the team prepare for their first leg Champions League qualifier in Lisbon, Nikki and Jeff are locked in discussions with Manchester United trying to negotiate a deal for Lee. However, Lee is unwilling to move. He also wants to play in the Champions League match, but can't as Man Utd don't want him cup-tied. He eventually plays in the match and stays loyal to Harchester, and also sleeps with Nikki. Meanwhile, Tommy has injured his shoulder. He tries to keep it secret as he sees this big match as his big chance to prove himself to potential buyers. Everything goes wrong for the team when a brawl breaks out and all the players except Viv get arrested. Holly, the new trainee physio, hides Tommy's passport resulting in the whole team being bailed out except for him (she found out about his injury, and didn't want him to play).

Fed up with life in the Championship, several players hand in transfer requests in the hope of securing moves back to the Premiership. However, Eli gets Dean to stall the moves, so that none of the players leave. The team lose the first leg of their Champions League qualifier 2-1, but in the second leg get a 1-0 victory to qualify for the group stage (away goal ruling). It is then that Dean tells them they can't leave. Also, Jeff admits he has feelings for Nikki, only to find out about her and Lee. However, Lee is done with both of them (as agents anyway). He gives them a cheque for the money they would have made if he'd joined Barcelona, and they both leave.

The players are put through a gruelling two days at a Boot/Training Camp. Curtis proves himself worthy as captain in this time, despite competetion from Frank Stone for the armband. Meanhile, Ryan suffers a further setback. Already struggling to recover froom his broken leg, an incident at a party means that it will now be about ten weeks until he is fit to play again. But at least he's not alone - he finds a friend in Chelsea.

The team start the episode on a high. Since Boot Camp, they have gone five games unbeaten without conceding a goal, and Don Barker is Manager of the Month. However, it all goes wrong in the Champions League game against Barcelona. The team are mauled 4-0, mainly because of Frank Stone's poor performance. Clyde isn't helping - he is constantly taunting Frank. Their arguments reach boiling point when Frank viciously assaults Clyde. Meanwhile, Chelsea can no longer hide her feelings for Ryan. They kiss, then during the Barcelona games things get steamy between them in the boiler room.

Dream Team gathers pace for a calamitous finale. Barker pens a letter to the team, revealing the truth about the season's dark secrets. And Harchester loses a legend.

The cataclysmic finale sees obsessive-compulsive Jaws leading the Dragons to the Championship play-off final, Barker arriving in Cardiff hiding a deadly secret in the boot of his car, and Ryan on the run from Jaws. When Barker's gruesome cargo is discovered things begin to spiral out of control. On the pitch, the team’s future is decided by one crucial goal. But it's after the match that the team's fate is sealed forever.