 With the failure of the project "European Red Star" in 2008, Slobodan Vučićević became the president of Crvena zvezda and brought new life into the club.Svetislav Pešić became the head coach, and a new team was assembled, including some notable players such as Nemanja Bjelica, Marko Kešelj, Vladimir Štimac, Andre Owens, Lawrence Roberts but the club failed to win a trophy that year, and at the end of the season, both Slobodan Vučićević and Svetislav Pešić left the club.In the following two seasons, the club experienced a decline and financial problems, which culminated in the 2010–11 season when the club had a budget of only 500.000 euros.