The 1961/62 season is perhaps best remembered for the fact that Accrington Stanley resigned from the Football league during the course of the campaign. But, nearer home, the Rovers were having a very poor season of their own, so poor in fact that they eventually had to apply for re-election to the Fourth Division after finishing in 21st place.

New player/manager Danny Malloy had arrived from Cardiff City shortly before the start of the season, but there was little in the way of other fresh blood as the Rovers opened the new season with only three draws to show from their opening six League games. There then followed a remarkable run of six successive wins, during which 22 goals were scored. These victories included big wins at Exeter City (5-1) and at home to Tranmere Rovers (6-1). Not surprisingly, such a run elevated the Rovers up the League table, but that progress was quickly arrested following a bizarre slump that saw the Rovers lose their next six League games and begin the trip back down the table. The fall was briefly arrested during late November/early December when the team put together an unbeaten run of four games, but the next three were all lost, including a disappointing home defeat to York City on Boxing Day.

The New Year's Day game at Barrow provided a further defeat and the Rovers' lowly League position was beginning to look especially serious. Over the Pennines, Accrington Stanley were on the verge of resigning form the Football League due to mounting debts, and their visit to Belle Vue on February 27th 1962 came just two weeks before the Stanley tended a letter of resignation to the Football League. Following their departure, the Football League decided that only the bottom three clubs in the Fourth Division would be asked to apply for re-election. The second half of the 1961/62 season was nothing short of disastrous for the Rovers, for despite signing more players during this period they won just three of their last 21 League fixtures and finished the season third from the bottom. They were just eight points adrift of safety, and Malloy paid the supreme sacrifice at the end of the season. The Cup competitions offered little in the way of consolation for the Rovers' long suffering supporters.

The FA Cup saw the Rovers bow out to Chesterfield for the second successive season, via a four-goal defeat at Belle Vue. They did a little better in the League Cup, beating Grimsby Town at Belle Vue, in the first round, before losing heavily at Rochdale in round two.

Leading scorers (league): Leighton 14, Larkin 12