Bury, Oxford United and Bristol City occupied the three relegation places in Division One. Oxford's dismal season was mainly down to £10 million debts which were putting the club in real danger of closure, and had also resulted in the suspension of construction of their new stadium near the Blackbird Leys estate.
Going down were York City, Northampton Town, Lincoln City and Macclesfield Town. Narrowly avoiding the drop to Division Three were Oldham Athletic, who just five years earlier had been a Premiership side who came within a whisker of reaching the FA Cup final.
Carlisle United kept their league status in remarkable fashion. They entered the final game of the season in bottom place, and with 90 minutes on the clock in their home game against Plymouth Argyle they were drawing 1-1 and needed a win to stay up. The referee then allowed 4 minutes of stoppage time and with just seconds to go, goalkeeper Jimmy Glass came upfield and scored from a rebounded corner to preserve his club's place in the league which had been held since 1928. Scarborough, who had only joined the league in 1987, were relegated instead. Glass, 25, had been signed on loan from Swindon Town after the transfer line because an injury crisis had left Carlisle without a goalkeeper for the final few games of the season.
| Pos | Team | P | W | D | L | F | A | Pts |
|---|---|---|---|---|---|---|---|---|
| 1. | Sunderland | 46 | 31 | 12 | 3 | 91 | 28 | 105 |
| 2. | Bradford City | 46 | 26 | 9 | 11 | 82 | 47 | 87 |
| 3. | Ipswich Town | 46 | 26 | 8 | 12 | 69 | 32 | 86 |
| 4. | Birmingham City | 46 | 23 | 12 | 11 | 66 | 37 | 81 |
| 5. | Watford | 46 | 21 | 14 | 11 | 65 | 56 | 77 |
| 6. | Bolton Wanderers | 46 | 20 | 16 | 10 | 78 | 59 | 76 |
| 7. | Wolverhampton Wanderers | 46 | 19 | 16 | 11 | 64 | 43 | 73 |
| 8. | Sheffield United | 46 | 18 | 13 | 15 | 71 | 66 | 67 |
| 9. | Norwich City | 46 | 15 | 17 | 14 | 62 | 61 | 62 |
| 10. | Huddersfield Town | 46 | 15 | 16 | 15 | 62 | 71 | 61 |
| 11. | Grimsby Town | 46 | 17 | 10 | 19 | 40 | 52 | 61 |
| 12. | West Bromwich Albion | 46 | 16 | 11 | 19 | 69 | 76 | 59 |
| 13. | Barnsley | 46 | 14 | 17 | 15 | 59 | 56 | 59 |
| 14. | Crystal Palace | 46 | 14 | 16 | 16 | 58 | 71 | 58 |
| 15. | Tranmere Rovers | 46 | 12 | 20 | 14 | 63 | 61 | 56 |
| 16. | Stockport County | 46 | 12 | 17 | 17 | 49 | 60 | 53 |
| 17. | Swindon Town | 46 | 13 | 11 | 22 | 59 | 81 | 50 |
| 18. | Crewe Alexandra | 46 | 12 | 12 | 22 | 54 | 78 | 48 |
| 19. | Portsmouth | 46 | 11 | 14 | 21 | 57 | 73 | 47 |
| 20. | Queens Park Rangers | 46 | 12 | 11 | 23 | 52 | 61 | 47 |
| 21. | Port Vale | 46 | 13 | 8 | 25 | 45 | 75 | 47 |
| 22. | Bury | 46 | 10 | 17 | 19 | 35 | 60 | 47 |
| 23. | Oxford United | 46 | 10 | 14 | 22 | 48 | 71 | 44 |
| 24. | Bristol City | 46 | 9 | 15 | 22 | 57 | 80 | 42 |
See also: Play-off results
| Key |
|---|
| Promoted to the Premier League |
| Qualified for the promotion playoff |
| Relegated to Division Two |
| Pos | Team | P | W | D | L | F | A | Pts |
|---|---|---|---|---|---|---|---|---|
| 1. | Fulham | 46 | 31 | 8 | 7 | 79 | 32 | 101 |
| 2. | Walsall | 46 | 26 | 9 | 11 | 63 | 47 | 87 |
| 3. | Manchester City | 46 | 22 | 16 | 8 | 69 | 33 | 82 |
| 4. | Gillingham | 46 | 22 | 14 | 10 | 75 | 44 | 80 |
| 5. | Preston North End | 46 | 22 | 13 | 11 | 78 | 50 | 79 |
| 6. | Wigan Athletic | 46 | 22 | 10 | 14 | 75 | 48 | 76 |
| 7. | A.F.C. Bournemouth | 46 | 21 | 13 | 12 | 63 | 41 | 76 |
| 8. | Stoke City | 46 | 21 | 6 | 19 | 59 | 63 | 69 |
| 9. | Chesterfield | 46 | 17 | 13 | 16 | 46 | 44 | 64 |
| 10. | Millwall | 46 | 17 | 11 | 18 | 52 | 59 | 62 |
| 11. | Reading | 46 | 16 | 13 | 17 | 54 | 63 | 61 |
| 12. | Luton Town | 46 | 16 | 10 | 20 | 51 | 60 | 58 |
| 13. | Bristol Rovers | 46 | 13 | 17 | 16 | 65 | 56 | 56 |
| 14. | Blackpool | 46 | 14 | 14 | 18 | 44 | 54 | 56 |
| 15. | Burnley | 46 | 13 | 16 | 17 | 54 | 73 | 55 |
| 16. | Notts County | 46 | 14 | 12 | 20 | 52 | 61 | 54 |
| 17. | Wrexham | 46 | 13 | 14 | 19 | 43 | 62 | 53 |
| 18. | Colchester United | 46 | 12 | 16 | 18 | 52 | 70 | 52 |
| 19. | Wycombe Wanderers | 46 | 13 | 12 | 21 | 52 | 58 | 51 |
| 20. | Oldham Athletic | 46 | 14 | 9 | 23 | 48 | 66 | 51 |
| 21. | York City | 46 | 13 | 11 | 22 | 56 | 80 | 50 |
| 22. | Northampton Town | 46 | 10 | 18 | 18 | 43 | 57 | 48 |
| 23. | Lincoln City | 46 | 13 | 7 | 26 | 42 | 74 | 46 |
| 24. | Macclesfield Town | 46 | 11 | 10 | 25 | 43 | 63 | 43 |
See also: Play-off results
| Key |
|---|
| Promoted to Division 1 |
| Qualified for the promotion playoff |
| Relegated to Division 3 |
| Pos | Team | P | W | D | L | F | A | Pts |
|---|---|---|---|---|---|---|---|---|
| 1. | Brentford | 46 | 26 | 7 | 13 | 79 | 56 | 85 |
| 2. | Cambridge United | 46 | 23 | 12 | 11 | 78 | 48 | 81 |
| 3. | Cardiff City | 46 | 22 | 14 | 10 | 60 | 39 | 80 |
| 4. | Scunthorpe United | 46 | 22 | 8 | 16 | 69 | 58 | 74 |
| 5. | Rotherham United | 46 | 20 | 13 | 13 | 79 | 61 | 73 |
| 6. | Leyton Orient | 46 | 19 | 15 | 12 | 68 | 59 | 72 |
| 7. | Swansea City | 46 | 19 | 14 | 13 | 56 | 48 | 71 |
| 8. | Mansfield Town | 46 | 19 | 10 | 17 | 60 | 58 | 67 |
| 9. | Peterborough United | 46 | 18 | 12 | 16 | 72 | 56 | 66 |
| 10. | Halifax Town | 46 | 17 | 15 | 14 | 58 | 56 | 66 |
| 11. | Darlington | 46 | 18 | 11 | 17 | 69 | 58 | 65 |
| 12. | Exeter City | 46 | 17 | 12 | 17 | 47 | 40 | 63 |
| 13. | Plymouth Argyle | 46 | 17 | 10 | 19 | 58 | 54 | 61 |
| 14. | Chester City | 46 | 13 | 18 | 15 | 57 | 66 | 57 |
| 15. | Shrewsbury Town | 46 | 14 | 14 | 18 | 52 | 63 | 56 |
| 16. | Barnet | 46 | 14 | 13 | 19 | 54 | 61 | 55 |
| 17. | Brighton & Hove Albion | 46 | 16 | 7 | 23 | 49 | 66 | 55 |
| 18. | Southend United | 46 | 14 | 12 | 20 | 52 | 58 | 54 |
| 19. | Rochdale | 46 | 13 | 15 | 18 | 42 | 55 | 54 |
| 20. | Torquay United | 46 | 12 | 17 | 17 | 47 | 58 | 53 |
| 21. | Hull City | 46 | 14 | 11 | 21 | 44 | 62 | 53 |
| 22. | Hartlepool United | 46 | 13 | 12 | 21 | 52 | 65 | 51 |
| 23. | Carlisle United | 46 | 11 | 16 | 19 | 43 | 53 | 49 |
| 24. | Scarborough | 46 | 14 | 6 | 26 | 50 | 77 | 48 |