Eventually Fredrikstad, who faced relegation if they lost, beat Start 3–1 while at the same time Vålerenga managed a 2–2 draw against Odd Grenland. Vålerenga stepped one up from the previous year, and won the title with a one-point margin. The title was Vålerenga's first league title in 21 years, ending Rosenborg's 13-year reign as league champions. The follow-up season of 2006 did not start out as well for the reigning champions, and a poor start left them at the bottom of the table after seven rounds, having gained only 5 points. A steady rise in form though still brought the team to 6th place by the time the season was half-through. Late July brought a string of bad results, including embarrassing losses to main rival FK Lyn, and the exit from the UEFA Champions League, after losing 5–3 on aggregate to Czech club Mladá Boleslav in the 2nd qualifying round. Vålerenga had aimed to qualify for the tournament after missing out the previous year by being defeated by Belgian side Club Brugge on a penalty shoot-out. After losing five out of seven games between 22 July and 19 August head-coach Kjetil Rekdal announced his resignation. Assistant coach Petter Myhre took over as interim manager, and as a result the club regained their form and scored 25 out of the last 30 possible points, bringing the club to a third place in the league, as well as a qualification spot for the 2007–08 Europa League. Vålerenga also qualified for play in the 2006–07 Scandinavian Royal League after finishing among the top four teams in Norway. In October 2006, Petter Myhre was hired on a permanent basis, but he would resign in July 2007, following a string of bad results. In November 2007, Martin Andresen signed a three-year contract to become the next manager of Vålerenga. Heavy investment from owners and investors saw the signing of several high-profile players, most notably Lars Iver Strand and Kristoffer Hæstad. However, despite winning the 2008 Norwegian Football Cup, the following season was a disappointment, with Vålerenga finishing 10th in the league. In the 2009 season, Vålerenga finished 7th, reaching the semifinal in the cup. 2010 saw a revitalized Vålerenga, led by a trio of effective forwards, Mohammed Abdellaoue, Bengt Sæternes and Luton Shelton.