The team had sat in the automatic promotion spots for the majority of the campaign, but a late slump in form saw local rivals West Bromwich Albion pip them to second place.
[2] Wolves' pre season saw them spend a week in Caldas da Rainha, Portugal (13–22 July), training and playing three Portuguese sides.
This schedule was a change from their initial plans to compete in the Toronto Soccer Festival against both Canadian sides and other overseas entrants.
The provisional fixture list was released on 21 June 2001, but was subject to change in the event of matches being selected for television coverage or police concerns.
The season retained the home kit from the previous year; a darker "old gold" style shirt with black shorts.