With a year to run on his contract, Stephenson seemed to be on his last chance at the club. His response was remarkable. Given an opportunity in central midfield, he grasped the chance with both hands, turning in a string of inspirational performances throughout the season. His speciality, a wonderfully disguised Cruyff turn, was regularly used to create space and change the direction of attack. Stephenson finished the season as the Supporters` Player of the Year.
Stephenson continued to be a consistent performer for the next two seasons before announcing his retirement from football in 2002. He was offered a position on the coaching staff and was appointed youth team coach in 2003, a position he held during the managerial reigns of Neale Cooper and Martin Scott. When Scott left the club in February 2006 with the first team languishing near the bottom of League One, Stephenson was handed the task of avoiding relegation. Unfortunately he failed to do so and the club returned to the Football League basement after a three year absence.
When Danny Wilson was appointed manager in the summer of 2006, Stephenson returned to youth team duties. However, he would not stay there long. After another eighteen months of good work with the juniors he left the club to join Glenn Roeder`s coaching staff at Norwich City, bringing a decade`s worth of service to an end.