The team was sponsored by British Consols, one of the brands of the MacDonald Tobacco Company. British Consols also sponsored teams in hockey, softball and baseball.
The club joined the National Soccer League before the 1934 season.
In the 1935 season they won the British Consols Cup.
After the 1939 season the British Consols decided not to operate the following season, and ten of their players joined the Maple Leafs.