Libertad

Paraguay

Founded 1905·Semifinals (2006)

Founded in 1905, Libertad are Paraguay's third-most successful club behind Olimpia and Cerro Porteño. Their best Libertadores campaign came in 2006, when they topped their group and eliminated powerhouses Corinthians and River Plate, before falling in the semifinals 2-0 on aggregate to Internacional, that year's eventual champions.