Fitzroy under new coach Robert Walls reached the finals in 1981. Walls immediately took over as coach of Fitzroy after retiring at Carlton.

With a major clean-out of older players in the club's disappointing 1980 season, Walls lifted the Lions to their best era since winning a premiership in 1944.

They improved from wooden spooners in 1980 to fifth at the end of the home-and-away season in 1981, securing their finals berth with an upset 26-point win over Collingwood at Victoria Park in front of 32 393 people.

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Fitzroy went on to beat Essendon in the Elimination Final before failing by the narrowest of margins in the First Semi against the Magpies at the MCG in front of a crowd of more than 75 000.