26 October 1988 - No Trophy For Old Boys

On 26 October 1988, Nacional won their third Copa Libertadores, beating Newell's Old Boys 3-0 in extra time of the final's second leg.

Nacional were a very experienced tournament side, having finished as runners-up in 1964, 1967, and 1969 before eventually lifting the cup in 1971, then again in 1980. Old Boys, on the other hand, were in the final for the first time after their title-winning season in the 1987-88 Argentinian Premier División.

Old Boys took the first leg, winning 1-0 at home on 19 October with a 60th-minute goal from forward Jorge Luis Gabrich. The teams then reconvened in Montevideo for the second leg, with a crowd of 75,000 gathering for the occasion.

The organizers instituted a new rule for the 1988 tournament; like the previous finals, it was determined on points, but whereas earlier tournaments went to a playoff when the teams were level on points after two legs, the 1988 edition went to extra time. At the end of extra time, the winner was decided by goal differential with a penalty shootout to follow if needed. As it turned out, it wasn't.

Nacional took a 2-0 lead into the break with goals from Ernesto Vargas (13') and Santiago Ostolaza (36'), then added a third from Hugo de León in the 78th minute to all but seal the win on goal differential, though the teams still needed to play through extra time. Tempers flared in the 115th minute, with the referee ejecting a player from each side as Nacional held on for the title.

Despite their history of success, Nacional have not returned to the final since. Old Boys reached it again in 1992, but lost to São Paulo.

11 December 1988 - PSV's Penalty Luck Runs Out

On 11 December 1988, Nacional eventually claimed the Intercontinental Cup, beating PSV Eindhoven in a penalty shootout that reached a total of 20 kicks.

Playing before a crowd of 62,000 at the National Stadium in Tokyo, the Copa Libertadores champions went up in the 7th minute with a powerful header from Uruguayan midfielder Santiago Ostolaza off a corner kick. They held onto their lead until the 75th minute, when PSV's Brazilian striker Romário delivered an equalizer with a header of his own.

Level at 1-1 after 90 minutes, the match went to extra time, where PSV took the lead with a 110th-minute penalty kick from center back Ronald Koeman, who sent his shot straight down the middle. But nine minutes later, with PSV looking almost certain to win, Ostolaza struck again with another header to send the match into penalty kicks.

Penalty kicks had been kind to PSV earlier in the year, as they topped Benfica in the European Cup 0-0 (6-5). But after five kicks each, the two teams were still level, having converted three each. After Ostolaza converted the ninth kick for Nacional to stay level at 6-6, PSV right back Barry van Aerle missed his kick, opening the door for the Uruguayans, who won 2-2 (7-6) after Tony Gómez converted his attempt.

26 October 1988 - No Trophy For Old Boys

On 26 October 1988, Nacional won their third Copa Libertadores, beating Newell's Old Boys 3-0 in extra time of the final's second leg.

Nacional were a very experienced tournament side, having finished as runners-up in 1964, 1967, and 1969 before eventually lifting the cup in 1971, then again in 1980. Old Boys, on the other hand, were in the final for the first time after their title-winning season in the 1987-88 Argentinian Premier División.

Old Boys took the first leg, winning 1-0 at home on 19 October with a 60th-minute goal from forward Jorge Luis Gabrich. The teams then reconvened in Montevideo for the second leg, with a crowd of 75,000 gathering for the occasion.

The organizers instituted a new rule for the 1988 tournament; like the previous finals, it was determined on points, but whereas earlier tournaments went to a playoff when the teams were level on points after two legs, the 1988 edition went to extra time. At the end of extra time, the winner was decided by goal differential with a penalty shootout to follow if needed. As it turned out, it wasn't.

Nacional took a 2-0 lead into the break with goals from Ernesto Vargas (13') and Santiago Ostolaza (36'), then added a third from Hugo de León in the 78th minute to all but seal the win on goal differential, though the teams still needed to play through extra time. Tempers flared in the 115th minute, with the referee ejecting a player from each side as Nacional held on for the title.

Despite their history of success, Nacional have not returned to the final since. Old Boys reached it again in 1992, but lost to São Paulo.

11 December 1988 - PSV's Penalty Luck Runs Out

On 11 December 1988, Nacional eventually claimed the Intercontinental Cup, beating PSV Eindhoven in a penalty shootout that reached a total of 20 kicks.

Playing before a crowd of 62,000 at the National Stadium in Tokyo, the Copa Libertadores champions went up in the 7th minute with a powerful header from Uruguayan midfielder Santiago Ostolaza off a corner kick. They held onto their lead until the 75th minute, when PSV's Brazilian striker Romário delivered an equalizer with a header of his own.

Level at 1-1 after 90 minutes, the match went to extra time, where PSV took the lead with a 110th-minute penalty kick from center back Ronald Koeman, who sent his shot straight down the middle. But nine minutes later, with PSV looking almost certain to win, Ostolaza struck again with another header to send the match into penalty kicks.

Penalty kicks had been kind to PSV earlier in the year, as they topped Benfica in the European Cup 0-0 (6-5). But after five kicks each, the two teams were still level, having converted three each. After Ostolaza converted the ninth kick for Nacional to stay level at 6-6, PSV right back Barry van Aerle missed his kick, opening the door for the Uruguayans, who won 2-2 (7-6) after Tony Gómez converted his attempt.