Financial trouble in the early 1980s and a large investment on players throughout that decade started to deteriorate the club's finances under Jorge de Brito's presidency. The rampant spending and a questionable signing policy (over 100 players during Manuel Damásio's term) further aggravated the problem. Soon after, with president João Vale e Azevedo, Benfica was in huge debt and sometimes unable to pay taxes and player salaries. From 1994 to 2003, Benfica had eleven coaches, won the 1995–96 Taça de Portugal, suffered their biggest defeat in European competitions, 7–0 to Celta de Vigo in 1999, had their lowest league finish ever, a sixth place in 2000–01, and were absent from European competition for two years, from 2001–02 to 2002–03. Back in 2000, club members had approved the construction of the new Estádio da Luz shortly after the election of Manuel Vilarinho.