The competition began on 20 August 1985, and ended with the final on 20 April 1986 at the Old Wembley Stadium.
The cup was won by Oxford United, who beat Queens Park Rangers 3–0 in the final, to win their first major cup silverware.
Goals from Trevor Hebberd, Ray Houghton and Jeremy Charles sealed the victory.
TV coverage of this competition only began after Christmas following the "blackout" where no club matches were shown for the first half of the season,[1][2] and there was no UEFA Cup place for the winners as a result of the ban on English clubs that followed the Heysel Stadium disaster.
Favourites Liverpool, in search of a unique domestic treble, were surprisingly beaten by QPR, while Oxford United eased past Aston Villa in the other semi-final.