From 2006, the LFP had a ten-year sponsorship agreement with the banking group BBVA. Initially rebranded as Liga BBVA, the Segunda División was renamed Liga Adelante two years later, after the BBVA sponsorship was extended to the Primera División, which received the Liga BBVA name. Another banking group, Banco Santander, took over the sponsorship of both divisions in 2016, upon which the Segunda División was renamed La Liga 1|2|3. Since the 2019-20 season, the Segunda División is named as La Liga SmartBank.
Since the 2010–11 season, a play-off has been played between teams in positions 3 through 6, to determine which team is promoted to La Liga with the top two in the league table.
As of 2010-11 the league contains 22 teams that play each other home and away for a 42 match season. Each year three teams are promoted to La Liga. The top two teams earn an automatic promotion. The third team to be promoted is the winner of a play-off between the next four best qualified teams in positions 3 through 6 (reserve teams are not eligible for promotion). The play-offs comprise two-legged semi-finals followed by a two-legged final. The bottom four are relegated to Segunda División B.