They had won the title in the previous season, meaning that they qualified for the European Cup for the first time in their history.

On 7 September the 2–1 win at Aston Villa broke the previous undefeated record of 34 consecutive league games by Don Revie' Leeds United in the 1968–69 season.

Trevor Francis became the first £1,000,000 player when he signed for the Reds from Birmingham City and immediately proved his worth by scoring the only goal of the European Cup final against Malmö in Munich.

26 year old Colin Barrett suffered a serious leg injury 10 days after scoring in the win against Liverpool.

Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.