Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 07/1948 |  | Nigel Sims | GK | |||
| 07/1948 | | Alf Crook | DF |  | Wolverhampton Wanderers (R) | Wolverhampton Wanderers (R) |
| 07/1948 | | Len Gibbons | DF | |||
| 07/1948 | | Stan Cullis | MA |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 05/1949 | | Les Mynard | MF |  | Derby County | Derby |
| 11/1948 | | Ernie Stevenson | FW |  | Cardiff City | Cardiff |
| 07/1948 | | Ted Elliott | GK |  | Chichester City FC | Chichester City |
| 07/1948 | | Gordon Brice | DF |  | Reading FC | Reading FC |
| 07/1948 | | Dennis Westcott | FW |  | Blackburn Rovers | Blackburn |