finished runners up both in La Liga and the domestic cup, losing to Real Madrid and Atletico Madrid, respectively. The most notable players of the 1970s era include Austrian midfielder Kurt Jara, forward Johnny Rep of the Netherlands and Argentinian forward Mario Kempes, who became the La Liga topscorer for two consecutive seasons in 1976–77 and 1977–78. Valencia would go on to win the Copa del Rey again in the 1978–79 season, and also capture the European Cup Winners' Cup the next season, after beating English club Arsenal in the final, with Kempes spearheading Valencia's success in Europe. Mid to late 1980s: Stagnation and relegation In 1982, the club appointed Miljan Miljanić as coach. After a disappointing season, Valencia was in 17th place and faced relegation with seven games left to play. Koldo Aguirre replaced Miljanić as coach, and Valencia barely avoided relegation that year, relying on favorable results from other teams to ensure their own survival. In the 1983–84 and 1984–85 seasons, the club was heavily in debt under the presidency of Vicente Tormo. The club finally hit rock bottom when it was relegated at the end of the 1985–86 season, and riven with internal problems such as unpaid player and staff wages, as well as poor morale. The club was relegated for the first time after 55 years in Spanish top-flight football. Arturo Tuzón was named the new club president, and he helped steer Valencia back to La Liga. Alfredo Di Stéfano returned as coach in 1986 and Valencia won promotion again following the 1986–87 season. Di Stéfano stayed on as coach until the 1987–88 season, when the team finished in 14th position in La Liga. Bulgarian forward Luboslav Penev joined the club in 1989, as Valencia aimed to consolidate their place in La Liga. For the 1988-89 La Liga season Valencia finished third, which would signal their competitiveness going into the 1990s. 1990s: Re-emergence In the 1989-90 La Liga season Valencia finished runner-up to Real Madrid, and thus qualified for the UEFA Cup. Guus Hiddink was appointed as head coach in the 1991–92 season, and the club finished fourth in the League and reached the quarter-finals of the Copa del Rey. In 1992, Valencia CF officially became a Sporting Limited Company, and retained Hiddink as their coach until 1993. Brazilian coach Carlos Alberto Parreira, fresh from winning the 1994 FIFA World Cup with the Brazil national team,