Saturday 27 February 1932 at Molineux (Att 34,520)

Wolves (1) 1 (Phillips 32): Tootill, Lowton, Kay, Rhodes, Hollingworth, Richards, Phillips, Bottrill, Hartill, Redfern, Barraclough.
Leeds United (1) 1 (Cochrane 2): Moore, G Milburn, J Milburn, Stacey, Hart, Copping, Duggan, Hornby, Keetley, Bennett, Cochrane.

Referee: Mr A Adams (Nottingham).
Order of Goals: l,W.
Race for Championship: Leeds United were top of the League.
Position: 2nd.