United's best success this season came in the UEFA Champions League, in which they reached the semi-finals before being knocked out by eventual runners-up Bayer Leverkusen on away goals.

£19 million striker Ruud van Nistelrooy did what was expected of him by scoring 36 goals in all competitions and collecting the PFA Player of the Year award, but £28.1 million national record signing Juan Sebastián Verón was a major disappointment in midfield, though it was in defence where United were at their weakest following the shock departure of Jaap Stam to Lazio just after the start of the season, and the surprise acquisition of 35-year-old Frenchman Laurent Blanc as his successor.

Striker Andy Cole left United after seven years when he sealed a transfer to Blackburn Rovers at the end of December.

On 27 August, Jaap Stam was controversially sold to Lazio for a fee of £16.5 million, while on 8 November, Jesper Blomqvist signed for Everton.

Arriving in the summer transfer window were Northern Irish goalkeeper Roy Carroll, Dutch forward Ruud van Nistelrooy, Argentinian midfielder Juan Sebastián Verón and French defender Laurent Blanc.