The decision at the founding member of the MAAC Football League in 1993 was announced by director of athletics Patrick Lyons.

"It is with a heavy heart and careful deliberations that we have come to this extremely difficult decision," Lyons said in a statement. "The dissolution of the MAAC Football League after the 2007 season and the lack of equitable opponents in Division I FCS football was the main factor in the decision. This decision was not a result of the program's performance on the field. The young men that competed in the past and present represented Iona College with pride and dedication in a way that all can admire."

After becoming a Division I program in the 1993 season, the Gaels recorded a 59-94 overall record in 15 seasons.

They won the MAAC Football League Championships in 1993 and 2007.