Transfer activity was heavily influenced by restrictions imposed by UEFA in European competitions.
The most significant move was the sale of England international goalkeeper Chris Woods to Sheffield Wednesday.
Rangers won the Scottish Cup for the first time since 1981, defeating Airdrieonians 2–1 after a 1–0 win over Celtic in the semi-finals.
In Europe they were knocked out the European Cup in the first round by Czechoslovakian side Sparta Prague.
The McCoist / Hateley strike partnership yielded an impressive 62 goals during the season.