During the 1996–97 season Valencia CF competed in La Liga, Copa del Rey and UEFA Cup.

During summer the club transferred in several players such as 1994 FIFA World Cup Winner Romário[1] on loan from FC Barcelona, Forward Claudio López,[2] centre back Defender Fernando Cáceres,[3] Brazilian midfielder Leandro Machado[4] and Croatian Striker Goran Vlaović from Padova Calcio in an attempt to replace the sale of Predrag Mijatović to Real Madrid.

The purchase of Romário was controversial after several disputes between the Brazilian star and Luis Aragonés upon October when the forward finished his agreement and left the club to return to Flamengo.

Also, in Copa del Rey the squad was eliminated in Eightfinals by underdogs Segunda División team UD Las Palmas after two legs and a penalties series.

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