From 1988 to 1991, Valenciennes improved significantly under manager Georges Peyroche. Peyroche left the club in 1991 and Francis Smerecki was named as his replacement. In Smerecki's first season, he led the club back to Division 1. In the club's first season back, Valenciennes were involved in a bribing scandal that effectively dismantled the club for the next decade. The scandal, which involved Marseille midfielder Jean-Jacques Eydelie and the club's general manager under the advisement of club chairman Bernard Tapie bribing Valenciennes players Christophe Robert, Jacques Glassmann, and Jorge Burruchaga, became headline news mainly due to Marseille being the most popular club in the country. It was asserted that the bribe was made in order for Valenciennes players to "take it easy" on Marseille players with the latter club having to play in the 1993 UEFA Champions League Final against Italian club Milan just days later. Marseille beat Valenciennes 1–0 and went on to defeat Milan to become the first French club to win the European competition. After the plot was discovered, Robert admitted to accepting the bribe, Burruchaga admitted to initially agreeing to it, but later changing his mind, while Glassmann said he never agreed to the deal. The subsequent reports of the scandal completely tarnished the Valenciennes's image and several players departed the club amid embarrassment and speculation that they were also involved in the plot. With the club now playing in Ligue 2, Valenciennes was unable to cope with the damage instilled on it due to the scandal and finished dead last in the league, thus falling to the third division for the first time in the club's lifetime. Two seasons later, the club was relegated to the fourth division due to financial problems. Ahead of the 1996–97 season, the club dropped to amateur status after filing for bankruptcy.