Bañón was born in Alicante. After playing for three local amateur clubs he joined another team in the Valencian Community, Hércules CF, being part of the side's La Liga roster in 1941–42 but failing to make his debut in the competition.
In the 1943 summer Bañón signed for Real Madrid, being the most used player in his position over the course of his six-season spell (maximum of 26 in 1944–45 and a minimum of 17 in 1947–48) and winning three major titles, including two Copa del Generalísimo trophies. He was forced to retire from football at only 27, due to a lung problem.
After retiring, Bañón returned to his native region and coached Alicante CF from 1951 to 1953, the first year being spent in Segunda División and the second as a player-coach. He was also in charge of Orihuela Deportiva CF and Elche CF, leaving the sport for good in 1956.
Bañón was called up several times to the Spanish national team as Ignacio Eizaguirre's backup, but only gained one cap: on 27 January 1947, he played 48 minutes in a friendly with Portugal before retiring injured in the eventual 1–4 loss in Lisbon.
Personal / Death
- Bañón no podrá jugar en bastante tiempo (Bañón will not be available for a long period); El Mundo Deportivo, 2 July 1949 (Spanish)
- Portugal, 4 – España, 1 (Portugal, 4 – Spain, 1); El Mundo Deportivo, 27 January 1947 (Spanish)
- Fallece el árbitro alicantino Francisco Bañón (Alicante-born referee Francisco Bañón dies); Diario Información, 21 May 2009 (Spanish)
- José Bañón, ex futbolista (José Bañón, former footballer); El País, 23 April 1987 (Spanish)