doc: add a manual page.

diff --git a/doc/Makefile b/doc/Makefile
index 613036bb..bff82fd6 100644
--- a/doc/Makefile
+++ b/doc/Makefile
@@ -162,6 +162,7 @@ NON_PREFIXED_MANPAGES := doc/lightning-cli.1 \
 	doc/lightningd-config.5 \
 	doc/lightningd-rpc.7 \
 	doc/lightning-hsmtool.8 \
+	doc/lightning-downgrade.8 \
 	doc/lightning-reckless.1
 
 MANPAGES := $(PREFIXED_MANPAGES) $(NON_PREFIXED_MANPAGES)
diff --git a/doc/index.rst b/doc/index.rst
index a7487d87..11acf53d 100644
--- a/doc/index.rst
+++ b/doc/index.rst
@@ -87,6 +87,7 @@ Core Lightning Documentation
    invoicerequest <invoicerequest.7.md>
    keysend <keysend.7.md>
    lightning-cli <lightning-cli.1.md>
+   lightning-downgrade <lightning-downgrade.8.md>
    lightning-hsmtool <lightning-hsmtool.8.md>
    lightning-reckless <lightning-reckless.1.md>
    lightningd <lightningd.8.md>
diff --git a/doc/lightning-downgrade.8.md b/doc/lightning-downgrade.8.md
new file mode 100644
index 00000000..6f154001
--- /dev/null
+++ b/doc/lightning-downgrade.8.md
@@ -0,0 +1,102 @@
+lightning-downgrade -- Tool to revert core lightning to an older version
+========================================================================
+
+SYNOPSIS
+--------
+
+```bash
+lightning-downgrade [ARGUMENTS]...
+```
+
+DESCRIPTION
+-----------
+
+**lightning-downgrade** reverts an upgrade by modifying the `lightningd`
+database back the prior version.  `lightningd` must **not** be running
+at the time.
+
+A downgrade may not be possible if a new feature has been used that would
+be incompatible with an older version.  In this case the downgrade will fail
+with a message and nothing will be changed.
+
+Use the latest `lightning-downgrade` to downgrade.  For example, the `v25.12` lightning-downgrade won't know how to downgrade `v26.06`.
+
+All minor versions are compatible, so a downgrade to v25.09 will work
+fine with v25.09.1 or v25.09.2, etc.
+
+VERSIONS
+--------
+
+* *v25.12*: downgrades to v25.09.
+
+  Downgrade is not possible if `withhold` `true` has been used with `fundchannel_complete`, or if `askrene-bias-node` has been used.
+
+* *v25.09*: downgrade is not supported.
+
+OPTIONS
+-------
+
+* **--lightning-dir**=*DIR*
+
+  Set the directory for the lightning daemon we're talking to; defaults to
+*$HOME/.lightning*.
+
+* **--conf**=*PATH*
+
+  Sets configuration file (default: **lightning-dir**/*config* ).
+
+* **--network**=*network*
+* **--mainnet**
+* **--testnet**
+* **--testnet4**
+* **--signet**
+* **--regtest**
+
+  Sets network explicitly.
+
+* **--rpc-file**=*FILE*
+
+  Named pipe to use to talk to lightning daemon: default is
+*lightning-rpc* in the lightning directory.
+
+* **wallet**=*DSN*
+
+  Identify the location of the wallet.  See lightningd-config(5) for details.
+  
+* **--help**/**-h**
+
+  Pretty-print summary of options to standard output and exit.  The format can
+be changed using `-F`, `-R`, `-J`, `-H` etc.
+
+* **--version**/**-V**
+
+  Print version number to standard output and exit.
+
+
+BUGS
+----
+
+You should report bugs on our github issues page, and maybe submit a fix
+to gain our eternal gratitude!
+
+AUTHOR
+------
+
+Rusty Russell <<rusty@rustcorp.com.au>> wrote the initial version of **lightning-downgrade** and this man page.
+
+SEE ALSO
+--------
+
+lightningd(8), lightningd-config(5)
+
+RESOURCES
+---------
+
+Main web site: <https://github.com/ElementsProject/lightning>
+
+COPYING
+-------
+
+Note: the modules in the ccan/ directory have their own licenses, but
+the rest of the code is covered by the BSD-style MIT license.
+Main web site: <https://github.com/ElementsProject/lightning>