Some people think football is a matter of life and death. I assure you, it's much more serious than that.

Shankly was succeeded in the Preston team by Tommy Docherty and Shankly told Docherty that he should "just put the number 4 shirt on and let it run round it knows where to go". In 1965–66 Liverpool regained the League Championship title and reached the final of the European Cup Winner's Cup at Hampden Park but they lost 2–1 in extra time to Borussia Dortmund. In 1974 he decided that he could leave Liverpool with pride in a job well done and only one regret which was that he did not win the European Cup.

Shankly announced his surprise retirement from football a few weeks after Liverpool won the 1974 FA Cup Final having managed the club for fifteen years and was succeeded by his long-time assistant Bob Paisley. He led Liverpool to the Second Division Championship to gain promotion to the top-flight First Division in 1962 before going on to win three First Division Championships two FA Cups four Charity Shields and one UEFA Cup. He is widely regarded as one of football's most successful and respected managers.