Financially, the club lagged behind their league rivals. This especially showed during the El Dorado period (1949–54), when Colombian clubs aggressively signed foreign players from all over South America. Unable to do the same, América fell towards the bottom of the table. During the 1950s, the club finished no higher than sixth and even sat out of the 1953 tournament due to financial reasons. They almost fail to survive the decade, and only made it because another Cali club, Boca Juniors de Cali, folded instead. In 1960, desperate to make some sort of a splash, the club signed Adolfo Pedernera as manager Pedernera managed the club to a runner-up finish in 1961, the highest place in the history of "Los Diablos Rojos".