Pre-Season Wizard Cup, winning all 4 of its games, to secure its first Pre-season Championship in 8 years against eventual Grand Finalist West Coast. This would create a real sense of optimism amongst fans, after an improved 2004 and help lift membership to a record 33,534. Coach Denis Pagan was signed up for an additional 3 years off the back of the Wizard Cup win, offering experience and stability as the Blues truly looked to rebuild.
Early on in the real season, the Blues would be competitive, with close but not entirely convincing wins over Essendon and Hawthorn, an away draw against reigning premiers Port Adelaide and close losses to the Kangaroos, Fremantle and Collingwood, to be 2 1/2 wins from its first 6 matches. But it would seemingly never recover from its round 7 thrashing at the hands of Richmond. This would start a run of 11 straight losses, which would not end, ironically, until the return clash against the Tigers in Round 18. By this time it had plummetted to bottom place of the ladder. It would only win one further match, in round 20, against a depleted Collingwood but Carlton would end up with only its second wooden spoon at season's end. Injuries to key defenders Bret Thornton and Luke Livingston and a 2 match suspension to full forward Brendan Fevola would prove costly, followed by a prolonged absence for ruckman Barnaby French.
2005 would be a sad year for many long time supporters, with the final game played at Princes Park in Round 9 against Melbourne. This was the first year in which all but one of its home games would be played at either TD or MCG, with all home games to be played there from 2006.
Coach: Denis Pagan
Leading Goal-kicker: Brendan Fevola - 49 goals
Best and Fairest: Anthony Koutoufides
150 Games: Nick Stevens
100 Games: Ryan Houlihan, Brendan Fevola, Barnaby French
50 Games: Ian Prendergast, Jarrad Waite
Debuts: Eddie Betts, Setanta Ó hAilpín, Chris Bryan, Jordan Russell
Debuts (Carlton): Callum Chambers, Troy Longmuir