[3] Valverde's second season in charge was less successful in the league, as Athletic suffered three more losses than the year before and slipped to 9th.
[4] They enjoyed more success in the Copa del Rey, reaching the semifinals before being knocked out on penalties by eventual champions Real Betis.
[7] However, they won their other three games - against Parma of Italy,[8] Steaua București of Romania,[9] and a crushing 7–1 victory over Standard Liège of Belgium[10] - to progress as group winners.
Their opponents in the next round were Austria Wien, and despite a creditable 0–0 draw in the away leg,[11] Bilbao were eliminated after a 2–1 defeat at home.
[12] Valverde left his post at the end of the season, and was replaced by José Luis Mendilibar.