In 1992 Maccabi Haifa was purchased by Ya'akov Shahar, who became the owner and president of the club. Under Shahar's management, Maccabi Haifa enjoyed financial stability and professional working regulations on a par with European football clubs' standards. Maccabi Haifa's highlight season was 1993–94. After winning the 1993 cup, Maccabi Haifa gave a stunning performance in the UEFA Cup Winners' Cup (CWC), beating Torpedo Moscow 3–1 and Parma 1–0 in the last 16, only to lose on penalties. During the season in the domestic league (then called Liga Leumit), the team went unbeaten for the entire season, out of an overall unbeaten streak of 48 games, thus winning a spectacular championship, and breaking many Israeli records. The Maccabi Haifa 1993–94 squad including Eyal Berkovic, Reuven Atar, Alon Mizrahi and Serhiy Kandaurov, and is considered one of the best squads in Israeli football history.