During the 1994–95 season Valencia CF competed in La Liga and Copa del Rey During summer new President Francisco Roig appointed Brazilian and recently 1994 FIFA World Cup Champion Carlos Alberto Parreira as new manager.

[2] Also, the club transferred in several players such as Russian striker Oleg Salenko,[3] Vicente Engonga,[4] 1994 FIFA World Cup Winner Mazinho from Palmeiras[5] also from FC Barcelona arrived International Goalkeeper Andoni Zubizarreta and defender Juan Carlos Rodríguez.

The team collapsed in League to the 10th spot never placing in European classification zone and Parreira left the club before the end of the season.

Meanwhile, with Rielo as new manager in Copa del Rey the squad reached the Final for the first time since 1979 being defeated by Deportivo La Coruña with a 1–2 score.

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