In
| Player | Team | Date | Fee |
|---|---|---|---|
| Jim McDonagh | Bolton Wanderers | 30 June 1980 | £250,000 |
| Terry Gennoe | Southampton | August 1980 | 1-month loan (extended to 2 months) |
| Gerry Mullan | Ballymena United | 14 October 1980 | £40,000 (+£30,000 add-ons) |
| Total (initial fees only): | £290,000 | ||
- Terry Gennoe (Southampton) – Transfer completed around 27th August 1980.
Out
| Player | Team | Date | Fee |
|---|---|---|---|
| Brian Kidd | Bolton Wanderers | 28 May 1980 | £150,000 |
| Geoff Nulty | Retired | 29 May 1980 | |
| Drew Brand | Hereford United | June 1980 | Free |
| Dave Smallman | Released | 1 July 1980 | |
| Des Coleman | Released | 1 July 1980 | |
| John Thomas | Released | 1 July 1980 | |
| Mike Imlach | Released | 1 July 1980 | |
| George Wood | Arsenal | 14 August 1980 | £140,000 |
| Andy King | Queens Park Rangers | 12 September 1980 | £450,000 |
| Total (initial fees only): | £740,000 | ||
- Geoff Nulty (Retired) – Unable to recover from injury problems following a tackle by Liverpool's Jimmy Case in a Merseyside derby in March 1980. Retired after becoming Gordon Lee's assistant manager at Everton on 29th May 1980.
- Dave Smallman (Released) – Smallman's contract at Everton had expired the previous summer however Everton kept him while he was recovering from his knee injury. Eventually joined Wrexham on 31st July 1980.
- Des Coleman (Released) – Eventually joined Morley Green in 1980.
- John Thomas (Released) – Eventually joined Bolton Wanderers in July 1980.
- Mike Imlach (Released) – Eventually joined Preston North End in August 1980.
| Income | £740,000 |
| Expenditure | £290,000 |
| Net Spend | -£450,000 |