1940 was the fifth of seven seasons for the Dixie Football League, which ran from 1936-1947. With the addition of the Roanoke Travelers, the Dixie League returned to having six teams for the 1940 season. While the team made a successful debut, finishing in second place, the Travelers had the misfortune of having almost half of its season cancelled as a result of bad weather. Two early losses deprived Richmond of a chance for competing for the league title (which was easily won by Portsmouth), but the Arrows entertained the fans by being the first DFL team to average more than two touchdowns a game. "Sunshine" Campbell, returning to the Dixie League after playing in the
American Association and the E.P.F.L., provided the passes, and A. B. Conner became the "M.V.P." of the "Dixie League" by scoring 49 points. Portsmouths Larry Weldon set a new league record by throwing seven touchdown passes in the span of ten games. Over a span of 20 games in 1939 and 1940, Weldon and the Cubs managed to win 16 games, lose two, and tie two games (a .889 winning percentage) – and win two league titles. The Washington Presidents struggled through its third consecutive season as a "traveling team", and left the League after the end of the 1940 season. There were no playoffs, so Portsmouth was declared league champions for the second straight year, finishing 8-1-1, with a comfortagle 2.5 game lead over the second-place Roanoke Travelers (4-2-0).