The club was found after an assembly of employees at the Empresa Eléctrica del Ecuador, an electric company in Guayaquil, decided to start an amateur sports league. The initiative was spearheaded by George Capwell, the executive officer of the company who came from the United States. The first sports played in the club were baseball, basketball, boxing, swimming, handball, and football. Capwell did not enjoy football, so the sport was supported only by his employees in non-official but recognized championships. This changed in the 1940s, when Capwell finally lent his support, resulting in the club winning several official local championships, building their own stadium, and hosting the 1947 South American Championship entirely in it.