local investors with former player Marc Keller staying as director-general. The new ownership focused on cleaning up the club's finances. In 2005, Racing won their second domestic trophy in four years when they beat Caen 2–1 in the final of the League Cup, a feat which provided them with a passport to the 2005–06 UEFA Cup, in which they reached the last sixteen. In 2006, Strasbourg was again relegated. The club was taken over by real estate investor Philippe Ginestet and celebrated its centennial in the autumn of 2006 with various events, including an exhibition and a friendly match against Marseille. Ginestet hired French legend Jean-Pierre Papin as the new manager and the club again won immediate promotion to the top flight in 2007, finishing at third place. In spite of this, Papin resigned as manager, citing internal relationship problems, and was succeeded by Jean-Marc Furlan. Under Furlan, the RCS was unable to preserve its spot in Ligue 1, mainly due to eleven consecutive defeats at the end of the 2007–08 season, a record for post-World War II football in France. Furlan was nevertheless confirmed as manager for the following Ligue 2 season but failed in his mission to bring the club back in the top-tier as Racing ended 4th with a huge defeat at Montpellier. Furlan's contract was subsequently terminated and Phillipe Ginestet stepped down from his position as chairman while remaining the major shareholder. He was succeeded by Léonard Specht, who picked Gilbert Gress as manager. However, Gress quickly entered in conflict with many members of the club, including Ginestet, whom he violently attacked just after his side's defeat to Châteauroux in the inaugural league game. Ginestet then convened an extraordinary meeting of the board to sack Gress, prompting Léonard Specht's resignation. Gress was replaced by assistant manager Pascal Janin, first as a caretaker and then as permanent manager, when Ginestet re-took the club's presidency at the end of August 2009. In the 2009–10 season, a final-day away defeat relegated Strasbourg to the Championnat National as they suffered their second relegation in three seasons. The 2010–11 season saw them narrowly miss out on promotion back to Ligue 2 as they finished fourth behind Guingamp. On 17 July 2011, Racing Club de Strasbourg entered total liquidation and were removed from the National in favour of AS Cherbourg. On 25 August 2011, after lengthy negotiations with the FFF, Strasbourg were