In
| Player | Team | Date | Fee |
|---|---|---|---|
| Jim Pearson | St Johnstone | 31 May 1974 | £100,000 |
| Martin Dobson | Burnley | 27 August 1974 | £300,000 |
| Dave Smallman | Wrexham | 11 March 1975 | £70,000 |
| Total (initial fees only): | £470,000 | ||
Out
| Player | Team | Date | Fee |
|---|---|---|---|
| Colin Harvey | Sheffield Wednesday | 13 September 1974 | £70,000 |
| Joe Royle | Manchester City | 24 December 1974 | £170,000 |
| Colin D'Arcy | Bury | January 1975 | Undisclosed |
| Bill Kenny | Tranmere Rovers | 12 March 1975 | £6,000 |
| Total (initial fees only): | £246,000 | ||
- Colin D'Arcy (Bury) – Transfer completed around 16th January 1975.
| Income | £246,000 |
| Expenditure | £470,000 |
| Net Spend | +£224,000 |