Soulier d'or européen
In 1984–85, McGaughey finished second in the European Golden Shoe race to FC Porto's Fernando Gomes, scoring 34 league goals in 26 matches (57 overall) and failing to add more as his season was cut short due to a severe knee injury. In the team's campaign in the European Cup, he helped it reach the second round, where he scored twice in a 3–3 home draw to Panathinaikos FC (4–5 aggregate exit); subsequently, he was named the Ulster Footballer of the Year.