Building for the 2003–04 campaign, Horton had to find a replacement for departing defender Matt Carragher. He found his replacement in Everton's reliable young George Pilkington; he also signed goalkeeper Jonny Brain and Austrian defender Andreas Lipa. By the start of the campaign Horton had completed the rebuilding of his squad that was necessitated by the financial crisis and the ageing of the highly successful side of the mid-1990s. A good start saw the club top of the table and Horton was named as Manager of the Month. The Vale were one point outside the play-offs by February, at which point Horton tendered his resignation.