The Montreal Canadiens were the Stanley Cup winners as they beat the Boston Bruins four games to one in the final series.
They were accepted with the proviso that they deposit $425,000 to show good faith, and prove they had sufficient working capital to consort with the other NHL teams.
A big deal was made between Toronto and Chicago as the Maple Leafs shipped Al Rollins, Gus Mortson, and Cal Gardner for goaltender Harry Lumley.
What was rumoured became fact in September when Arthur M. Wirtz and James D. Norris became the new owners of the near bankrupt Chicago Black Hawks.
On November 1, the first English language broadcast aired, with Foster Hewitt calling the action, starting in the second period because Conn Smythe was concerned that it would cut into the crowds at the arena.
When Terry Sawchuk was injured in practice, the Red Wings brought up Glenn Hall and he made his NHL debut on December 27 and played well in a 2–2 tie with Montreal.
Dick Irvin, coach of Montreal, was very upset over this and NHL president Clarence Campbell agreed, fining Adams $500.
After the finals, the Cleveland Barons of the American Hockey League applied to play a Stanley Cup challenge.
The NHL governors turned down the challenge, stating that the Cleveland club operated in a league of lower standing.