Their disappointment in the league could largely be put down to the fact that key players Ian Rush and John Barnes had missed many games through injury.

The season began on 8 August, when Liverpool faced league champions Leeds United in the FA Charity Shield, and an action packed game at Wembley Stadium ended in a 4–3 defeat.

Eight days later, Liverpool travelled to the City Ground to take on Nottingham Forest in their very first Premier League game, but came away 1–0 losers after a Teddy Sheringham goal.

The Football League Cup quest began on 22 September, when Division Three Chesterfield gave the Reds a scare by drawing 4–4 with them at Anfield.

The following Saturday saw an impressive 4–1 home win over surprise title challengers Norwich, but the month ended with a return to Liverpool's losing ways as they were beaten 2–0 by Tottenham at White Hart Lane, where Spurs' first goal came from a spectacular volley by Nayim.

[5] The League Cup third round replay against Sheffield United at Anfield saw them run out 3–0 victors thanks to a Steve McManaman brace and a Mike Marsh penalty.

However, any remaining hopes of European glory were ended on 4 November, when they suffered a 2–0 home defeat to Spartak Moscow in the second leg of the second round.

They lost 2–1 to Everton in the Merseyside derby at Goodison Park on 7 December, though two goals from Mark Walters six days later gave them a 2–1 home win over Blackburn Rovers.

Six days before Christmas, however, the Reds were on the receiving end of one of the biggest league shocks of the season as they were crushed 5–1 by Coventry at Highfield Road.

[6] December also saw the end of Liverpool's attempt to win a record fifth League Cup, as they were beaten 2–1 by Crystal Palace in the fourth round replay after a 1–1 draw in the first match.

[7] Liverpool's dismal form continued into February as they failed to win a single game all month, and speculation was mounting that manager Graeme Souness would soon be forced out of the club.

Three days later, Rush was joined by Don Hutchison on the scoresheet as the Reds won 2–1 at Middlesbrough – a result which pushed the Ayresome Park club deeper into relegation trouble.

20 March, was the day of the second Merseyside derby of the season, in which Liverpool ran out 1–0 winners and Ronny Rosenthal scored the only goal of the game.

[10] With the pressure off the Reds as the end of the season loomed, they lost 1–0 to third placed Norwich at the beginning of the month before being beaten 3–2 by an Oldham side who were on the way to completing a survival act which was little short of miraculous.