In 1992 a new tournament was organized by the South American Football Confederation, and was baptized with the name of the entity: Copa CONMEBOL.
From that initial tournament, 16 teams took part in the 10 member countries, with 4 places for Brazil, 3 for Argentina, 2 for Uruguay, and one for each of the remaining countries. The competition lasted from August through September and resulted in an enormous parity and allowed the international debut of three clubs: Argentina’s Deportivo Español, Gimnasia- Esgrima La Plata and Brazil’s Bragantino.
On that September 23rd, Atlético Mineiro won the championship despite losing to host Olimpia 1-0, because in the first leg of the series they had beaten Olimpia 2-0.
The Brazilian cast arrived at this decisive encounter after leaving behind Fluminense, Junior de Barranquilla and El Nacional de Ecuador, while Olimpia had eliminated Strongest, Deportivo Español and Gimnasia- Esgrima La Plata.
The first stage was played on September 16 at Brazil’s Governor Magalhaes Pinto stadium, known as "Minheirao". It was a close encounter, where the visiting team came out to play as equals before the powerful local team, who opened the scoring after 30 minutes through Negrini. The same player scored the second goal during the extended period, overcoming resistance from Sergio Goycochea. The 2-0 was the final result.
A week in Asunción was the revenge. The home team came out attacking from the start, but as the minutes passed and could not score, the nerves were winning them out. They finally could do it at 89, by Mauro Caballero, but the clock had run out of time. The glory was all for Brazi’s Atletico Mineiro, in that unforgettable night, they raised their first international title.
With arbitration from Uruguayan Ernesto Filippi, these were the formations:
Olympia: Sergio Goycochea; Virgnio Cáceres, Mario Ramirez, Isidro Nunez, Silvio Suárez; Adolfo Jara Heyn, Sanabria Vidal, Jorge Campos; Gabriel González, Adriano Samaniego and Miguel Sanabria. Coach: Roberto Perfumo.
Atlético Mineiro: Joao Leite; Alfinete, Luis Eduardo, Ruyler, Paulo Roberto; Moacir, Eder Lopes, Negrini; Sergio Araujo, Ailton Claudinho. Coach: Procopio Cardoso.