Liverpool had a disappointing season by their standards during the 1998-99 campaign. They finished the season in seventh position and lacked strength in many areas of the field, they were far from impressive in all cup competitions, however the positives that emerged from that season was the maturity of their youngster Michael Owen. Karl Heinz Riedle was a crucial element in the Liverpool team however their season did not go well.
The 1999-2000 season brought about a huge improvement in Liverpool’s performances. Liverpool finished off the season in forth position, in turn earning them a champion’s league birth.
The 2000-2001 season earned Liverpool a unique treble as they reached three cup finals, the FA Cup, League Cup and UEFA Cup. They met Birmingham in the League cup final and narrowly beat them 1-0. The FA Cup final was a classic between Arsenal and Liverpool; the Reds came from behind to beat the Londoners 2-1, thanks to two Michael Owen goals. In search of the ‘treble,’ Liverpool met Alaves in the final of the UEFA Cup. The match ended in a thrilling 5-4 victory to Liverpool and they won the treble. Liverpool sold Robbie Fowler early on in the season and bought Emile Heskey for £11 million. Their league form also improved as they finished off the season in third position.
The 2001-02 season brought about a further improvement in league form as the Reds finished off the season as runners up only to Arsenal and they reached the quarter finals of the champion’s league.