In December 2004, with 2 months left on his contract, Sorin Cârţu and president Nicu Boghici agreed for a departure. January 2005 came with rumors which said that Mittal Steel would take over the team, for which they already were shirt sponsors. Soon after, , former player of Oțelul and referee, was appointed as the new president of the club. The new manager of Oțelul, Mihai Stoichiţă was announced on the 23rd of January.