During the summer, the club was reinforced in the midfield with Danish playmaker Michael Laudrup (in a controversial transfer from Barcelona) and Argentine Fernando Redondo;[1][2] right back defender Sánchez Flores arrived from Valencia,[3] and changes came to the dugout too, with Argentine head coach Jorge Valdano arriving from CD Tenerife after seven years of his forced retirement as a player during the climax of "La Quinta del Buitre" era.

In the attacking line, Zamorano recovered his high level of play after a disastrous campaign last season, winning the Pichichi Trophy as the league top scorer.

The season also saw the breakthrough of a 17-year-old forward Raúl who would assume the starting position in place of rapidly declining Alfonso and Emilio Butragueño.

In the meantime, financial worries increased during the season and on 16 February 1995, incumbent Ramon Mendoza defeated challenger Florentino Pérez in the club's longest ever Presidential election by just 698 votes.

Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.