On July 25, 2002 Olimpia celebrated its centenary. This was not only an historic date in Olimpia's history because of the centenary, but it marked the year where Olimpia obtained its third Copa Libertadores. Having defeated teams such as Once Caldas (Colombia) and Universidad Católica (Chile) in the first round, Olimpia won the series against Cobreloa (Chile) in the second round, and then went on to overcome Boca Juniors in the quarter-finals. In the semi-finals, Olimpia overcame Grêmio (Brazil). The team led by coach Nery Pumpido defeated Brazilian side São Caetano 4–2 in a penalty shoot-out after an aggregate score of 2–2 in both legs and thus winning the final. Olimpia's base formation for the tournament was with Ricardo Tavarelli in goal; Néstor Isasi, Julio César Cáceres, Nelson Zelaya and Henrique da Silva in defense; Sergio Orteman, Victor Quintana, Julio Enciso and Gastón Córdoba in midfield; and Miguel Benítez and Richart Báez (later Hernán Rodrigo López) in the front. Coach Nery Alberto Pumpido was at the helm.