 Port Adelaide were appearing in their first ever AFL grand final, while the Brisbane Lions were attempting to win their fourth consecutive premiership to equal Collingwood's feat of 1927–30.At the conclusion of the home and away season, Port Adelaide had finished first on the AFL ladder with 17 wins and 5 losses, winning the McClelland Trophy for the third successive year, while Brisbane had finished second with 16 wins and 6 losses.During the 2004 season, Port Adelaide's captain was ruckman Matthew Primus, however he was injured in Round 3 and missed the rest of the season, which meant that forward Warren Tredrea acted as captain.