Club Olimpia is a Paraguayan professional football club based in the city of Asunción. It promotes the practice of various sports, with most importance given to the football, rugby and basketball sides, football being the highest priority and most successful. The club was founded on July 25, 1902, by a group of young Paraguayans, and the name stems from the idea of its principal founding member, William Paats, a Dutchman based in Paraguay, who is considered the father of Paraguayan football for having introduced the practice of the sport in the South American country. Internationally, the club is referred to as Olimpia Asunción in order to distinguish it from Latin American football clubs of the same name.
Olimpia has won a record 46 Primera División titles to date, including a unique record run of winning the league six consecutive times. The only Paraguayan club to win a CONMEBOL title, Olimpia has won three Copa Libertadores — and has been runner-up four times — as well as two Recopa Sudamericanas, one Intercontinental Cup, one Copa Interamericana, and one Supercopa Sudamericana, a competition it won automatically in 1991. In 1979 it achieved the "quadruple", the rare feat of winning all possible official titles on offer that year: the Paraguayan championship, the Copa Libertadores, the Copa Interamericana and the Intercontinental Cup.

Olimpia contests the Paraguayan football derby (clásico) with Cerro Porteño, the "clásico añejo" (Old Derby) with Guaraní, and the "black and white derby" with Libertad.

The football team plays its home games at the Estadio Manuel Ferreira, also known as "El Bosque" (The Forest) and "Para Uno". Basketball and other sports, have their own sports centre named after former president Osvaldo Dominguez Dibb in the same site as the stadium in the Mariscal López neighborhood.

History
Foundation
On November 23, 1901, before the formation of Club Olimpia, William Paats organized a first match between two teams of his students which then made young people to be eager to develop a sport team in Paraguay. Olimpia was founded on July 25, 1902, being the oldest football team in Paraguay. The club was founded by Dutchman William Paats, along with Paraguayans Sila Godoi, Fernando S. Pascual, José E. Torres, Gustavo M. Crovatto, Héctor Cabañas, Juan Rodi, Antonio Pedraza, Luis Marecos, Juan Mara and Genaro Gutiérrez Yegros. The act of foundation was written in the Rodi's family home, located in the streets of Azara and Independencia Nacional in downtown Asunción, Paraguay. That evening, three names for the club were suggested: Paraguay, Esparta and Olimpia. The final decision came to William Paats who chose "Club Olimpia" as the team official name, in honor of the Greek city of Olympia where the Olympic Games were born.
The original kit was composed of a black shirt with the word "Olimpia" written in white across the chest and white shorts. Later, white and black were adopted as the colours for the team, with a white shirt with a horizontal black stripe. The alternate jersey is black with a white stripe, though in 2008 the stripe is vertical.
The early years (1902–1950)
The first national championship in Paraguay was played in 1906, after the foundation of the Paraguayan Football Association (APF). It was not until 1912 that Olimpia won a championship, facing Sol de América in the final. In that same year, Olimpia's biggest rival, Cerro Porteño, was founded.
After a few championships won during the 1910s, Olimpia's next big accomplishment were the three championships in a row in 1927, 1928, 1929 becoming the first Paraguayan team to win three consecutive titles. Olimpia repeated the same feat by becoming champions in 1936, 1937, 1938. The 1940s presented a rough time for Olimpia with bad results for most of the decade; but despite that Olimpia won two titles (1947 and 1948).
The start of dominance (1950–1975) After the unpleasant times in the 1940s decade Olimpia started to establish its dominance in the Paraguayan league when Manuel Ferreira Sosa assumed the presidency of the club in the mid-1950s. During Ferreira's presidency the football stadium, Estadio Manuel Ferreira, was built. However, the most important accomplishment made by Ferreira was the acquisition of several key players that led Olimpia to a record five consecutive championships, from 1956 to 1960 (with an undefeated championship in 1959).





