The two Black Country rivals had been the main contenders for the league championship of the previous campaign, with Wolves edging out their challengers by four points in the end to claim their first ever league title. Albion had gained some consolation in winning their fourth FA Cup.
The match was held at Wolves' stadium, Molineux, in keeping with the trend of using the league champions' home that had been established at the turn of the decade. It was staged on an "international week" during the season, which caused several players – most notably, Wolves' captain Billy Wright – to miss the game as they were on duty with their national sides.
The hosts led the contest both 2–0 and 4–2, but were twice pegged back by rapid-fire replies. The game eventually ended 4–4, meaning the Shield was shared for the second time in its history.