Everyone has their own fond memories of the season, whether it was Gary McAllister's 44-yard curling free kick to win the Merseyside derby in the dying seconds, Michael Owen's cartwheels to the corner flag after scoring in the FA Cup Final at the Millenium Stadium, the atmosphere on the Kop during the victory over Barcelona, or the thousands of supporters lining the streets of Liverpool to catch a glimpse of the team showing off the trophies on the homecoming parade.
The Opposition criticised Liverpool's counter-attacking tactics, but Liverpool proved impossible to beat over four cup competitions and only lost nine Premiership all season. The comic-book defence had gone. All that was needed now was a bit of flair up front.
But very little happened on the transfer front during the summer. In came John Arne Riise, while Sander Westerveld was forced to make way for not one but two new keepers. Jerzy Dudek and Chris Kirkland were both signed on the final day of the transfer window and, while some criticised the need to replace Westerveld, it proved to be a good move.
The club started the season well, qualifying for the group stages of the Champions League and beating Manchester United to add the Community Shield to the already packed trophy room. A fairly average start to the season was followed by as shock League Cup exit to first division Grimsby Town. But the biggest shock was to come.
At half-time in the following game, at home to Leeds on 13th October, Houllier was rushed to Broad Green hospital with a heart condition. His condition was life-threatening but the surgeons repaired his aorta and kept him stable, though still unconscious, in the intensive cair unit.
While Houllier was recovering in hospital Liverpool struggled to focus on the job at hand. The club chose not to bring in an outsider and instead appointed Phil Thompson as caretaker manager. He toned down his act, composed himself well in the media and surprised many who dod not think he was up to the job. Despite all the emotion, the team went on a winning streak that, with the exception of a home defeat to Barcelona, lasted into December.
Robbie Fowler had fallen foul of Phil Thompson in a training ground bust-up earlier in the season and it was no secret of his annoyance at being left on the bench in favour of Michael Owen and Emile Heskey too often. But everyone was taken by surprise when he joined Leeds United at the end of November.
In his place came Nicolas Anelka, signed on loan from Paris St Germain until the end of the season. He added the firepower that had been lacking earlier in the season, but his spell at the club was short-lived. Houllier decided Anelka was not part of his long-term plans and refused to offer him a permanent deal.
As Thompson managed the club on a day-to-day basis it became clear that Houllier was feeling well enough to take more than a passing interest. He would often telephone Thompson to discuss tactics, and turned up at the Roma clash, which Liverpool had to win to qualify for the quarter-finals of the Champions League.
The Kop displayed a GH mosaic to celebrate Houllier's return and the atmosphere was intense as the Reds ran out 2-0 winners, but they were soundly beaten by a quality Bayer Leverkusen side in the next round. There was no silverware, but qualification for next season's tournament was guaranteed as they finished second in the Premiership, seven points behind Arsenal and three ahead of Manchester United.
Now was the chance to take the final step towards Premiership success....Next: Le Fin