At the end of the 1988–89 season Torino were relegated to Serie B for the second time in their history. The club was promoted back to Serie A in the 1989–90 season, and after having made important signings, qualified for the UEFA Cup under Emiliano Mondonico. The following season, Torino knocked Real Madrid out of the 1991–92 UEFA Cup in the semifinals, but lost the final on the away goals rule to Dutch side Ajax, after a 2–2 draw in Turin and 0–0 in Amsterdam. In Serie A, Torino finished in third place.