Brian Clough's Nottingham Forest, the reigning First Division winners and League Cup holders, made a bid for Francis for slightly over PS1 million. However, Manchester City were willing to pay double this amount.
City had just won the FA Cup under Joe Mercer when they made their bid. They had also signed Francis's son Paul from Forest but were not sure if the young player would be able to break into the first team at City. In the end, Paul moved to Liverpool instead where he became one of the best left backs in the world.
Forest later signed John Askey for PS1 million but he never played for the club and instead moved to Aston Villa where he ended his career after only four seasons.
Askey's arrival saw Forest try to sign Frank O'Farrell from Leeds United but he chose to stay at Elland Road and eventually joined Chelsea instead.
After O'Farrell, Forest failed with other attempts to bring in players from other clubs. They even tried to trade Kevin McCann but he wanted to go back to Newcastle United so that he could play more often which of course didn't happen due to serious injuries that kept him out of football for several years.
Nottingham Forest have recently completed the country's first PS1 million transfer. After eight seasons with Birmingham City, England forward Trevor Francis signed for Brian Clough's League and Cup-winning team this afternoon in Nottingham. The deal is worth £750,000 and includes bonuses.
Francis has scored over 100 goals in his career and was a key player during Clough's successful years at Birmingham City. He will be expected to help Forest regain their place in the top flight of English football.
The 27-year-old joined Birmingham City in 2000 and helped the club win the First Division title in his first season. He went on to score 40 goals in four seasons and was named Player of the Year twice. In 2004, he moved to Canada where he played one season with Montreal Impact before returning home to sign for Forest in June 2005. He has already made an impact at Forest and has scored three times so far this season including once in each of his recent appearances.
Forest are hoping that with Francis' experience and talent they can mount a serious challenge for promotion this season.
Birmingham City issued a statement saying that they were "extremely disappointed" not to be given permission by Forest to negotiate with Francis. However, manager Alex McLeish said after the transfer was confirmed that he believed it was a good move for both parties involved.
Birmingham City received a price of PS1,180,000, which included a 15% commission to the Football League. Trevor Francis was dubbed a squander of money in England, but Clough wanted his player to avoid unnecessary stress. Forest had previously won the League Cup and were doing well in the European Cup at the time. They could therefore afford to pay Francis's salary.
Francis played only six matches for Birmingham before moving on to Middlesbrough. He made over 100 appearances in the English top flight during his time at St Andrew's.
He later had a successful stint with Canada national football team, scoring 42 goals in 81 matches. The Canadian government sent him on tour throughout North America to help promote soccer there. He also scored 16 times for Canada in international matches.
After his playing career ended, Francis went on to manage several clubs including Birmingham City, Leicester City, Portsmouth, Blackburn Rovers and Derby County.
He died of cancer in March 2015 at the age of 60.
According to Matthew Taylor of ESPN, Francis's fee was high for a defender but not unreasonable given that he played only six games for Birmingham before moving on to Middlesbrough. He added that although Francis squandered money by spending excessively on himself, he still managed to bring in players such as Gordon Cowan and Paul Stewart.
Nottingham Forest have the eighth most valued squad in the Championship, with a total value of PS51.08m for its players. The club's revenue was £73.5m in 2011/12 - ranked sixth in the league - and their home match attendance was 132,829 that season.
Forest's top earner is striker Marcus Tudgay who earns £60k a week, followed by Richard Chaplow and Stuart Franklin who earn between them £45k a week. Goalkeeper Carl Ikeme is the club's lowest paid player with a salary of £80k while Liam Bridcutt, David Vaughan and Paul Dickov are each paid £100k a year.
Nottingham Forest were founded in 1879 and are based in Forest Old Park near the city centre. The club play in blue and white stripes and their main rivals are Derby County, with whom they contest the East Midlands derby. Nottingham Forest won the First Division title in 1898-99 and have also won the Second Division three times and the Third Division once. They have reached the FA Cup Final twice more recently in 1960 and 1990 when they lost to Manchester United both times.