Benfica competed domestically in the Primeira Liga and the Taça de Portugal (Portuguese Cup), but did not take part in European football due to their league finish in the previous season.
In the transfer market, the club shipped out regular starters from the past seasons and brought in new players, mixing the experience of Zlatko Zahovič and Ljubinko Drulović with acquisitions Pedro Mantorras and Simão Sabrosa.
After the change, Ferreira guided the team to third-place by late March, where several injuries in key players impacted their momentum.
They finished the season with 17 wins, twelve draws and five losses, putting them in fourth place and keeping them out of the European league for another year.
[1] One of his first decisions was transferring players deemed surplus to the new project,[2] including Serhiy Kandaurov, Ronaldo Guiaro, José Calado, and both strikers of the previous season, Pierre van Hooijdonk and João Tomás.
[3] Argel Fucks, Ljubinko Drulović and Zlatko Zahovič, all players who gained notability at Porto, were added to the team,[4] along with the highly expected Pedro Mantorras and Simão Sabrosa, the latter costing a record 12 million Euros.
A final score of 1–1 made the fifth draw in just eight games for Benfica, but the team still gained a point on the title race, as Boavista and Porto were tied for first.
[18] Their second match of October was played in Da Luz against Gil Vicente on the 20th, and resulted in a 2–0 win for Benfica, after João Mawete opened the score in the second half.
[20] Although they would have reached first place in the Primeira Liga standings if they had won, Benfica "did not perform to expectations, as the defence was a disaster", according to Manuel Queiroz of Record.
[20] The game ended in a 2–2 draw, despite Benfica leading by two nil until the last five minutes, when Mário Jardel scored a double and saved the cross-town rivals from defeat.
Ball in the center, intense fighting, score early and then manage time, free-kicks and bookings... Benfica could not connect two passes, and even make a single imminent goal threat".
[33][34] Disagreements over the composition of the technical staff caused Mourinho to decline the invitation, so Benfica turned to assistant manager Jesualdo Ferreira to lead the team.
[37][38] On the 8th, Benfica added Edgaras Jankauskas on loan from Real Sociedad to their roster, strengthening a sector that only had Mantorras as reliable option.
[42] António Tadeira characterized the game for Record, complementing the team's effectiveness: "The unprecedented scoring ratio, turned a poor and colourless performance into a satisfying thrashing".
[50] Benfica recovered their step when they played Gil Vicente at Estádio Adelino Ribeiro Novo on the 9th;[42] they took an early lead in the first half with a goal by Argel, with Drulovic doubling the score fifteen minutes later for a 2–0 victory.
[52] Jesualdo played Simão upfront, and as Joaquim Semeano of Record stated, "the small-great player confirmed his good momentum, giving speed to the game every time he touched the ball".
[53] They went on to win their third match in a row against Vitória Guimarães at the Estádio D. Afonso Henriques with a score of 4–1, including a double from Miguel Monteiro.
[52] Lacking attacking options, the team was unable to score and ended with a goalless draw; they remained ahead of Porto only with the goal difference.
[61] The meet ended with a 2–1 win for Benfica, after Mantorras took advantage of an error from Bassey William Andem in the 81st minute, confirming the second title in three years for Sporting.
[63] 17 wins, twelve draws and five losses during the season gave Benfica a league score of 63 points, putting the team 12 behind champion Sporting, but crucially, five behind Porto, placing fourth and missing out on UEFA competitions for a second year in a row.