A bleak financial picture led McGrath to focus on youth, and the Chamberlain brothers (Mark and Neville) in particular developed well to leave the club with a more optimistic future.

[1] The season opened with a 3–0 win over Doncaster Rovers, but then Vale travelled to Roots Hall, where they were beaten 5–1 by Southend United.

[2][1] The club in the re-election zone, unable to attract fans, and losing £1,000 a week, Arthur MacPherson resigned as chairman on 2 October, and was replaced by Don Ratcliffe.

[1] Young keeper Mark Harrison in good form, McGrath felt able to sell Trevor Dance to Stafford Rangers for £10,000.

[1] Their upturn in form tailed off, and their 4–0 defeat at Plainmoor on 5 November was played in front of a then Torquay United record-low crowd of 1,227 fans.

[1] However, poor league form continued; on 27 December Vale lost 5–1 to Northampton Town at the County Ground, and Phil Sproson was sent off for swearing at teammate Russell Bromage.

[1] On 24 January, they lost 5–0 at Field Mill to Mansfield Town; this left them at the foot of the league, four points adrift of safety.

[1] McGrath then installed a five-man defence away from home; the tactic proved a success, as Vale avoided defeat in all but two of their final eight away games.

[1] McGrath later reflected that "that Mansfield match was a dreadful experience; I simply could not wait any longer before taking some action; we had to get some better players.

[1] Six players left at the end of the season on free transfers, most significantly: Neil Griffiths (Crewe Alexandra), Steve Jones, Alan Woolfall (Marine), and John Allen (Hinckley Athletic).

[1] With Harrison injured, Vale then used Derby County loanee keeper Steve Cherry in a 'magnificent' 1–1 draw with Burnley at Turf Moor.