In the third season of Wartime competition the League is once again orgainsed into two regional leagues - North and South.  However, the clubs in London and the surrounding area object to having to travel large distances and form their own London League.  The Football League expel the sixteen clubs from the Football League, but that is subsequently rescinded.  However they are prohibited from taking part in the War Cup so they run their own London Cup competition.

The Football League North competition is split into two separate mini-championships to accommodate changing player availability and extensive use of "guest" players.  Unfortunately Wednesday have six matches postponed (more than any other club), only playing two matches between 10th January and 14th March, and do not play enough matches to be placed in the final table for the 2nd Championship. 

The new Football League Cup competition initially takes the form of a league, with the first ten Cup matches acting as qualification for the knockout competition, the teams placing in the first 32 places after ten matches qualifying.  Unfortunately postponements mean that Wednesday don't complete ten matches and along with a number of other clubs are awarded pro-rata points for the postponed matches.  Despite these points, Wednesday finish bottom do not qualify for the knockout competition.

Due to Wednesday's poor performance in the Wartime matches, Wednesday do not renew the contract of Jimmy McMullan and Eric Taylor takes over as caretaker manager for the final four matches of the season.  Surprisingly McMullan never returns to football and continues to work in industry in Sheffield.  It's an indication of how poor McMullan's management had been that Wednesday have an extremely good season under caretaker manager Eric Taylor the following season.

The new Football League Cup competition initially takes the form of a league, with the first ten Cup matches acting as qualification for the knockout competition, the teams placing in the first 32 places after ten matches qualifying.  Unfortunately postponements mean that Wednesday don't complete ten matches and along with a number of other clubs are awarded pro-rata points for the postponed matches.  Despite these points, Wednesday finish bottom do not qualify for the knockout competition.

Unfortunately due to postponements Wednesday do not play enough matches in the 2nd Championship to be placed in the final table.