Liverpool beat Everton 3–1 in the final – with Rush scoring twice – to complete the third league championship and FA Cup double of the 20th century.

[citation needed] After being promoted to the First Division the season before, Oxford United won the League Cup, beating the Queens Park Rangers 3–0 in the final.

Coventry City had spent most of the season in the relegation zone until a late revival after George Curtis and John Sillett took over as co-managers with three games remaining.

Middlesbrough suffered their only second relegation to the Third Division, as their own financial situation worsened to the point where they were locked out of their Ayresome Park ground and nearly expelled from the Football League before the following season.

Preston, the inaugural Football League champions back in 1888–89, saw their lowest finish ever at 23rd position almost a century on from their two back-to-back titles.