Despite achieving a 1–0 victory away against Manchester United, Nelson suffered several heavy defeats during the campaign, including a 0–6 loss to Derby County, and at one point went six matches without scoring a goal.

Nelson entered the FA Cup in the Fifth Qualifying Round, and were knocked out in a replay at that stage by Wigan Borough, having drawn the original tie.

With 14 goals in 42 appearances, Joe Eddleston was the team's top goalscorer for the third season in succession, and also played the highest number of matches of all the first-team squad.

The highest attendance of the season at the club's Seedhill stadium was 12,000 on two occasions, the first of these the opening day game against Clapton Orient on 26 August 1923.

On 15 May 1923, Nelson achieved a 4–2 victory against Real Madrid at the Campo de Ciudad Lineal,[2][3] two of the goals coming from Dick Crawshaw, who had been signed towards the end of the previous campaign.