1920 – 1924 Despite winning the 1919 premiership, infighting and sackings see the Blues slump to miss the finals in 1920, finish fourth in 1921 and seventh in 1922. In 1923 and 1924 the Blues, led by Captain-Coach Victor Richardson finish second. During this period Victor Richardson wins the 1920 Magarey Medal and the 1922 and 1923 best and fairest, Horrie Riley wins the 1923 Magarey Medal and Norm Barron wins the 1924 best and fairest.
1925 – 1928 Frank Golding, who becomes the first SANFL footballer to reach 200 games takes over the Captain-Coaches position in 1925 with the Blues finishing third, in 1926 the Blues win the premiership defeating North Adelaide by 13 points, before falling to fifth in 1927 and sixth in 1928. Clarrie Scrutton wins the best and fairest three times in 1925, 1926 and 1928.
1929 – 1937 After a rebuilding period under new coach Sid White the Blues have a sustained period of success, albeit for only one premiership, finishing second in 1931, then led by captain Victor Bateman they defeat North Adelaide by 41 points to win the 1932 premiership, a game in which Gordon ‘Grassy’ Green kicked an amazing 9 goals from only 10 scoring shots, then finishing third in 1933, 1934, 1935, runners up in 1936 and sixth in Whites last season in charge. During this time ruckman Keith Dunn wins the 1933 Magarey Medal and the best and fairest, Victor Bateman wins the 1929 and 1930 best and fairest, Ross Trelevean wins the 1931 and 1932 best and fairest and P.T. ‘Bo’ Morton wins the first of his three best and fairests in 1937 after making his debut for the club in 1930.
1938 – 1939 Even though being led by champion full forward P.T. ‘Bo’ Morton as Captain, the club struggles in these two years finishing sixth in both years.