1940 National Soccer League
Preview
Due to the previous seasons problems with fixture congestion it was decided not to have divisional playoffs this season. Each section of the league had to declare a champion before July 31.
Review of the season – Western Division
After 12 years as members of the league Maple Leafs qualified for their first Atholstan Cup Final. By beating Toronto Scottish 4-1 on Friday July 19 they clinched the championship of the western section and earned the right to meet the winners of the eastern section.
Western Division – Final Standings
| GP | W | L | T | GF | GA | Pts | |
| Toronto Maple Leafs | 10 | 6 | 1 | 3 | 29 | 14 | 15 |
| England United | 9 | 4 | 2 | 3 | 19 | 13 | 11 |
| Toronto Scottish | 9 | 4 | 3 | 2 | 11 | 10 | 10 |
| Hamilton City | 9 | 2 | 4 | 3 | 9 | 16 | 7 |
| Ulster United | 10 | 1 | 4 | 5 | 15 | 18 | 7 |
| Hamilton Stelco | 7 | 1 | 4 | 2 | 10 | 21 | 4 |
After the season had finsihed the finances of the Toronto clubs were so poor that all four clubs planned a series of monthly dances to build up finances for the next season.
The two Hamilton-clubs dropped out of the league and joined the Hamilton & District League.
Review of the season – Eastern Division
The eastern division was scheduled to kick off on May 4. Carsteel won the Eastern Section with only the loss of one point during their league schedule.
| GP | W | L | T | GF | GA | Pts | |
| Montreal Carsteel | 12 | 11 | 0 | 1 | 51 | 8 | 23 |
| Maisonneuve Rovers | 11 | 7 | 3 | 1 | 33 | 19 | 15 |
| Sons of England | 12 | 2 | 8 | 2 | 20 | 43 | 6 |
| Glen Yards | 11 | 0 | 9 | 2 | 15 | 51 | 2 |
1940 Lord Atholstan Cup Finals
October 5, 1940 Maisonneuve Grounds, Montreal
Montreal Carsteel 3
Toronto Maple Leafs 2
Referee:
Montreal Carsteel: Tim Gordon; Robert Dunlop, George White; Grundie, Max Epstein, Archie Gammon; Roland Castonguay, Sutherland, Doug McMahon, Bill Craig, George Chambers, Herb Leah, Saunders.
Toronto Maple Leafs: Olliver; Jordan, McLean; Adam Inch, D. White, Cairns; McGarva, Clark, Huskisson, Ross, Bugden. Subs: Farrimand, West, Cook
October 6, 1940 Glen Yards Grounds, Montreal
Montreal Carsteel 2 (Doug McMahon 2)
Toronto Maple Leafs 2
Referee:
Montreal Carsteel: Tim Gordon; Robert Dunlop, George White; Grundie, Max Epstein, Archie Gammon; Roland Castonguay, Sutherland, Doug McMahon, Bill Craig, George Chambers (Marcel Castonguay, Herb Leah, Saunders.
Toronto Maple Leafs: Olliver; Jordan, McLean; Adam Inch, D. White, Cairns; McGarva, Clark, Huskisson, Ross, Bugden. Subs: Farrimand, West, Cook.
Carsteel won the two-game total-goals series 5-2.
Exhibition game
May 20, 1940 Montreal, Quebec
Montreal Black Watch Regiment XI 0
NSL All-Stars* 1 (Jack Rudland)
*The NSL All-Stars was picked from players from England United and Toronto Scottish.
May 25, 1940 Hamilton, Ontario
Hamilton Stelcos 3
Montreal Stelcos 0
June 16, 1940 Mack Park, Detroit, Michigan
Michigan All-Stars
Hamilton City