The 1920–21 season was Port Vale's second consecutive season of football (15th overall) in the Football League. The season peaked early with a double victory in the league over rivals Stoke, however any sense of euphoria evaporated in February with the sale of star striker Bobby Blood. The club failed to find another reliable goalscorer until the arrival of Wilf Kirkham in 1923. The Vale finished at the bottom end of the table, though they did finish higher in the league than Stoke for the first time in their history.

During the pre-season, manager-secretary Joe Schofield stated that: "the future policy of Port Vale is to go ahead". He duly signed experienced full-back Bob Pursell, brother of Peter, from Liverpool. The capacity of The Old Recreation Ground was increased to 30,000; mainly due to the fund raising activities of the Supporters' Club. Of the 1919–20 squad, only William Aitken was let go, for a fee of £2,500 to Newcastle United. That money helped to pay for £400 Tom Page from St Mirren, and right-half Freddy Price from Wolverhampton Wanderers.

The season started positively enough; a 2–0 win over new club Leeds United helped to establish a start of six points from the opening six games. On 25 September, the "Valiants" delighted their fans by recording their first league victory over rivals Stoke in 'a stirring duel' which ended 2–1. The following week they achieved the double over Stoke by recording a 1–0 victory at the Victoria Ground. This encouraged fans to travel in their numbers to see the team beat Nottingham Forest 4–1 at the City Ground. Injuries to Price and Brough then saw the team slump, and this continued when new signing, Manchester City goalkeeper Walter Smith was arrested for assault on the day of his debut. The arrest is likely to account for a majority of the six goals he conceded that day at South Shields. The side recovered to record heavy victories over Hull City and , with Bobby Blood scoring six of the Vale's ten goals in the two games. Vale lost both their games to Bristol City, though Blood demonstrated his fearsome shooting power by blasting a penalty kick at City's keeper – the keeper saved the penalty to keep a clean sheet but broke his wrist in the process of saving the shot. Blood was sold to West Bromwich Albion for £4,000 in February – then a club record for both clubs. The effect on the pitch was telling, as Vale went on to record just two wins in their remaining sixteen games, with a meagre six goals scored. One of the victories was a 'flash in the pan' win over FA Cup semi-finalists Cardiff City, Cardiff fielded a weakened team and watched in bewilderment as Page scored the winning goal from the penalty spot, stubbing his foot in the process.

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