After Omagh Town closed at the end of the 2004/05 season, the place left by their absence was not filled. Instead, it was decided that a club from the Intermediate League Second Division (in this case, Ballymoney United) was allowed to stay in the First Division instead of being relegated, with only 11 clubs playing in the Second Division for one season. At the end of the 2005-06 season, Glebe Rangers entered a two-legged play-off with Derry side Trojans to determine the vacant 12th place in the Irish Second Division. Rangers won this play-off 9-5 on aggregate to claim the place in the league. Glebe formerly played in the Ballymena and Provincial Intermediate League.
The current manager is Gary Scott who replaced Derek Donaghy on 11th February 2010 . Scott is a former Limavady United coach.The club is very popular amongst players of the PC game Football Manager 2008 who choose to manage the club and see how far they can progress with them. This is called "The Glebe Challenge"Glebe Rangers Reserves will be managed by Gareth Moody in season 2008/09 after double winning manager Karl 'Spud' Smith was banned from I.F.A affiliated football for Two Years.