Brian Clough's Nottingham Forest side took the First Division by storm, winning the League Cup on 22 March and confirming themselves as league champions the following month. They joined a small and exclusive company of clubs to have won the league championship one season after promotion.

Manchester United broke the British transfer fee record on 9 February by paying Leeds United £495,000 for Scottish defender Gordon McQueen.

West Ham United, Newcastle United and Leicester City were all relegated.

Bolton Wanderers, Southampton and Tottenham Hotspur were all promoted, while Blackpool, Mansfield Town and Hull City were relegated.

Wrexham, Cambridge United and Preston North End were all promoted, while Portsmouth F.C., Port Vale, Bradford City and Hereford United were all relegated. Portsmouth became the second English champions to fall through the Third Division trap door into the basement tier after Huddersfield Town.

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