It was the final of the first staging of the Copa de Campeones de América (known in the modern era as the Copa Libertadores), which would go on to become the premier club competition in South American football and one of the most prestigious competition in the world. Seven teams entered the competition in its first season and, due to the odd number of teams, Olimpia reached the finals having won only one match and playing merely two. Peñarol had dispatched Jorge Wilstermann and needed a playoff to overcome San Lorenzo to reach the finals with the weight of having played five matches.[1]