In 1999–2000 under Dick Advocaat, the club had assembled a talented, cosmopolitan squad containing several Dutchmen and other internationals, at huge expense. They eliminated UEFA Cup holders Parma in the Champions League qualifying round, only to be drawn in a group containing two more of Europe's strongest teams: Bayern Munich were the 1999 runners-up, while Valencia were destined to be the 2000 runners-up, and those two clubs met in the 2001 final. Despite that quality of opposition, Rangers came close to eliminating Bayern, and after falling into the UEFA Cup, lost to Borussia Dortmund only via a last-minute goal and a penalty shootout. In the following campaign, they seemed poised to progress after beating Sturm Graz and Monaco in the first two rounds of group fixtures, only to collect just two more points and again finish third, with German opposition (Kaiserslautern) again swiftly ending UEFA Cup hopes.