Stoke back in European competition were handed a tough tie against Dutch giants Ajax. After a 1–1 draw at home Stoke dominated the second leg in Amsterdam but failed to find the back of the net and were knocked out on the away goals rule. In the league Stoke continued from where they left off last season in good form and for the first time since the 1946–47 season they were in the race for the First Division title. Unfortunately for Stoke so were a number of other clubs and with three matches left Stoke were third and on course for their best ever finish but they took just a point and finished in 5th position. There was a double blow for Stoke as they missed out on a UEFA Cup place after West Ham United won the FA Cup.

Before the start of the 1974–75 season Stoke signed Sheffield United forward Geoff Salmons and lined up for the opening match a 3–0 win over Leeds United. Despite exiting Europe Stoke's form in the First Division remained good, but Tony Waddington was worried to a certain extent about his last line of defence and in November he surprisingly decided to break the club transfer record with the signing of Peter Shilton for £325,000 which at the time was also a world record transfer for a goalkeeper. Within ten days of Shilton's arrival Stoke sat at the top of the table after beating his old club Leicester City 1–0.

Stoke's progress in 1974–75, however was severely handicapped by a remarkable injury crisis, Already without Alan Bloor and John Ritchie, Jimmy Greenhoff broke his nose against Birmingham City and then Jimmy Robertson broke his leg against Coventry City on Boxing Day. Despite this Stoke kept on performing well and by February were again were on top spot. A 2–2 draw at home to Wolverhampton Wanderers cost the team another broken leg, Mike Pejic which was followed by Denis Smith in the next home match against Ipswich Town. Yet Stoke still fought on with a reduced number of players, and after some fine results they lay in third with three games remaining If they won all three they would be champions of England for the first time. As it happened they failed to win any drawing twice and losing at Sheffield United and had to settle for fifth, four points behind champions Derby County. There was further disappointment for City as they lost out on a UEFA Cup place to West Ham.

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