Club Olimpia, often known more simply as Olimpia, was first established in July 1902. Based out of the city of Asuncion, the football team is part of a larger sports club, which takes part in several other professional sports, including basketball. They are the most successful side in the history of Paraguayan football, having won many honours on both the domestic and international front. Their primary rivals are Cerro Porteño, with whom they contest the Superclásico, which is generally regarded as the most important fixture in the country's football calendar.
The 1979 season saw Olimpia make history by winning every official competition they entered. This achievement consisted of winning the Primera División title, the Copa Libertadores, the Copa Interamericana and the Intercontinental Cup. As a result, they are the only team in Paraguay, and one of the few teams in the world, to have won a 'quadruple'.
In total, the team have won the Primera División title on 39 occasions; more than any other team. Their most recent league title success came in the 2011 Clausura. Additionally, Olimpia have enjoyed tremendous success on the international scene and are the only team in the country to have won officially recognised international competitions. In addition to their 1979 success, the side won the Copa Libertadores in 1990 and 2002, bringing their total number of titles to three. In 1990, they lifted the Supercopa Sudamericana, while in 1991 and 2003, the team won the Recopa Sudamericana.
Some of the most notable players to have represented Olimpia include Paraguayan internationals like Gabriel González, Adriano Samaniego and Alicio Solalinde.
The majority of the team's home matches are staged at the Estadio Manuel Ferreira, which is named after the club's former president. The venue first opened in 1964 and has a capacity of 22,000. However, some of the team's more high-profile games are played at the Estadio Defensores del Chaco, which has a larger capacity of 40,759.