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 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.

Club Cerro Porteño is a professional Paraguayan football club, based in the neighbourhood of Obrero in Asunción. Founded in 1912, Cerro has won 34 Primera División titles and is one of the most popular football clubs in Paraguay. Its president is Raúl Zapag and the manager is Manolo Jiménez. Its main rival is Club Olimpia. They play their home games at the 45,000-seat General Pablo Rojas Stadium, also known as La Nueva Olla, the biggest in the country.