Gary Caldwell has assessed Exeter City’s 2024/25 League One season, which saw the side finish in 16th place with 56 points.
The campaign also saw a memorable FA Cup run that ended with an agonising defeat to Nottingham Forest on penalties in the fourth round, and seven new signings in January that contributed to the Grecians turning their fortunes around.
Gary began by taking us back to the summer of 2024, when preparations were being made for the upcoming season, targets were being set and the back room team were busy identifying who they would like to bring into the football club.
“The targets we were set were very similar to when I joined the club. It was always going to challenging to stay in League One and the thing we wanted to achieve was to keep making progress and becoming a sustainable club in this league. We want to look to the higher end of the table and to do that you have to be here consistent and ensure we remain in the division.
“Every year the wage bills are going up and the quality of teams means it’s becoming almost like a mini Championship, so we know where we are at and that we are punching above our weight.
“When it came to recruitment we knew exactly the style of play we wanted and that allowed us to identify profiles easier, and the challenge was how quickly we could get these in. The longer the window goes on, the price drops and they are a more attractive prospect for our club.
“Every year we have been in League One we have been bottom four in terms of budget, and we probably will be again next season, but that doesn’t stop us trying to improve with what we have got. Last summer was a challenge but in the end I felt we had built a really competitive strong squad for the season”

City kicked off the season with a 1-0 ‘statement of intent’ win over newly-relegated Rotherham United, but that was followed by three loses in league and cup at Walsall, Northampton and at home to Peterborough, before an important 2-0 win away Bolton Wanderers. Caldwell have his thoughts on early proceedings.
“We have started both seasons under me well and I thought we were excellent in that Rotherham game, and it showed the strength of our recruitment especially in defensive areas with Joe, Tristan and Johnly, and the dynamic we created in terms of being able to build with speed and physicality.
“You know every game is going to be tough, especially at the start of the season with the cup game in there too where you’re coming off the back of pre-season where you’re trying to manage the squad. We went to Walsall who were on fire, but we should have probably won, and there were early hiccups for us of course.
“But what we have to get better at looking at next season is that when you lose, you, have to get back on the horse very quickly, win games and not allow runs to develop into a crisis.”
October saw City continue on a run of keeping goals out, registering six clean sheets in all competitions, with the stand out being a man of the match performance from Joe Whitworth at Shrewsbury. As a former defender, the gaffer was delighted with the run of form that also saw success in the EFL Trophy.

“What was impressive is we were getting clean sheets with the ball. It wasn’t emergency defending, it was how we were controlling games, transitioning defensively and winning the ball back quickly and it didn’t feel like we were defending that much. Joe’s ability at his feet allowed him to be that extra player in the build and it gave teams so many problems.
“In the Trophy, ultimately I learnt lessons from the previous year and that was a real positive that we made sure we had enough experience on the pitch around the young players, which was all intentional. We ran Birmingham very close in the knockouts and probably deserved something from the game, and it was a positive how we played against them.”
A difficult run of fixtures followed in November as City faced four teams who would go on to make the top five in the league come May, with defeats against Birmingham City, Wrexham and Stockport County, as well as a draw against Wycombe Wanderers. The squad learnt from the experience.
“I think what we learnt was that against the top teams you have to be perfect, and I think the disappointment for me this season is that we haven’t taken enough points off the top teams. In every game we were in the game – especially Wrexham when we had a goal disallowed – and although we lost these matches, the gulf never felt massive. Too many times we made errors.”

Form improved over the Christmas period, ending 2024 with seven points from three, and it was clear that performances had begun to match results, having taken on board the experiences from the difficult previous month. However, things would take a turn for the worst over January as a combination or results and injuries took its toll on the squad.
“Burton and Bristol Rovers were huge victories, and the frustrations were the Wycombe and Bolton matches which followed, as we dominated two very good teams. We didn’t get the points we deserved and what followed after with loan players going back and the changes we had to make in the January window was difficult. That was turning point for us. If you look at those performances from the way we dominated, it showed what we had learnt, so it was a huge disappointment.
“The 4-4 against Crawley to end the year, it was a crazy game but the first half in particular we just weren’t right and they scored with every shot, but the second half was a good as we played all season attacking wide as it was gung-ho and we probably could have won the game in the end. It’s not a game we would like to see too often though in terms of the highs and the lows.”
“Then January 15th came... I got a call from Brentford to say they were going to take him back, and when it did we lost a player of a calibre it is impossible to replace with our finances. Then Johnly got injured in training the same day, it became a disaster and you’ve lost your back three that had provided so much in terms of how the team functions [Pierce Sweeney was already out injured] in the same month when you weren’t expecting it. It became a real challenge moving forward.”

“Having changed the group so dramatically we needed something to galvanise the group and bring it together. I think getting a new environment, seeing different things and spending time together is so important. We had a drink together, sing together, went biking and played golf, and of course we trained really hard – some of the best training session we’ve had were out there.
“And you could tell on the bus and the plane on the way back that the group had more of a connection than before, and results will show we have only lost four times since we came back. The trip had a huge effect on the group.
“But we do understand why the supporters felt the way they did at the time, but they have to trust the football club that everything the club does it in its best interests. What we have at this club is an amazing group of people and everything we do is to get the best results for Exeter City. Like I said at the start, our goal is to be sustainable League One club, and we felt we had to do something different to ensure that. The results have been there since, and it’s something we will look at again if finances allow.”
And what does the summer hold for Caldwell?
“I’m going to go home and spend time with my family and get some golf in, but every day there will be bits of Exeter City on my mind. And it’s important to be in your own headspace, for all of us, and look at what parts of the season we can do more in and get better at. At this club we all have to keep pushing each other to be successful.”
Hear the full interview with Gary: