Luton Town Football Club is a professional football club based in Luton, Bedfordshire, England, that competes in the Premier League, the top tier of English football. Founded in 1885, they are nicknamed The Hatters due to the historical association of the town with the hat making trade and have played home matches at Kenilworth Road since 1905. The club's history includes one major trophy win, several financial crises, as well as numerous promotions and relegations. Between 1982 and 1992, they were a member of the First Division; they won their first major honour, the Football League Cup, in 1988. Luton Town have a long-standing rivalry with nearby club Watford.