They won the Supercopa de España against Mallorca with a 3–0 victory on 27 August in the second leg, avenging their loss to the same side in the 2002–03 Copa del Rey.

However, the team was eliminated in the quarter-finals of the Champions League on away goals by Monaco and finished as runners-up in the domestic cup, losing to Zaragoza after extra time.

They also lost their final five La Liga matches and finished in fourth place, which gave Valencia the title.

[3] [4] The team embarked on a summer tour in Asia, for 18 days, to cash in on the worldwide appeal of their new signing, David Beckham.

Most players admitted that they would have preferred a low-profile training camp and/or to have been home in Spain for the pre-season, instead of playing meaningless show matches against low quality opponents.