Football: Copa Libertadores
Published Wednesday, October 21, 11:26 p.m. ET (Thursday, 12:26 a.m. São Paulo) · Source: CONMEBOL fixtures, O Povo, Portal do Palestra, Estadão
Palmeiras of São Paulo beat Fluminense of Rio de Janeiro 5-3 on penalties on Wednesday night and are in the Copa Libertadores final.
Palmeiras, the São Paulo club and three-time champion of South America’s top club tournament (1999, 2020, 2021), lost the second leg 1-0 at its Nubank Parque stadium on Wednesday, 21 October 2026. It won the shootout 5-3, which settled the semi-final at 2-2 on aggregate after a 2-1 win in Rio de Janeiro on 14 October.
Palmeiras will now play in the Copa Libertadores final 2026 on Saturday, 28 November, in Montevideo, Uruguay. Fluminense, the Rio club that won the title in 2023, led through a second-half goal from Hércules but could not avoid the shootout.
Key Facts
—Result. Palmeiras beat Fluminense 5-3 on penalties after a 1-0 loss on Wednesday.
—Aggregate. The two-leg semi-final was level at 2-2 before the shootout.
—Final. Saturday, 28 November 2026, Estadio Centenario, Montevideo, Uruguay.
—Opponent. The winner of Flamengo against Estudiantes, decided Thursday at 8:30 p.m. ET.
—How to watch in the US. Kick-off time and US broadcaster for the final are not yet confirmed.
—Prediction markets. Polymarket prices Palmeiras at 50.5% to win the title, Flamengo 39.0%, Estudiantes 7.8% (Oct 21, 11:26 p.m. ET).
This story is part of our coverage of the Copa Libertadores final 2026. Date, kick-off in ET, tickets and how to watch in the US are in our Copa Libertadores final guide.
In plain English
The Copa Libertadores is South America’s biggest club tournament, the equivalent of the UEFA Champions League. Each semi-final has two matches, one at each club’s stadium, and a level tie can be settled by penalty kicks.
How the Shootout Was Decided
Palmeiras kicked first and scored all five penalties, through Maurício, Gustavo Gómez, Ramón Sosa, Piquerez and Marlon Freitas. Fluminense scored three, through captain Thiago Silva, Hércules and Guilherme Arana.
Nonato, Fluminense’s fourth taker, saw goalkeeper Carlos Miguel save his kick after seven successful penalties in a row. Freitas then scored the kick that sent Palmeiras through.
Thiago Silva Defends Nonato
Thiago Silva, the 42-year-old Fluminense defender and captain, told reporters that Nonato “played a great match and did not deserve it”, in the words of Estadão’s report, translated from Portuguese. “Unfortunately, in this situation someone has to miss,” he said.
He added that the club would support the young player and that Fluminense should be proud of its performance away from home. Fluminense had won the second leg but lost the tie.
What Comes Next
Palmeiras’ opponent is decided on Thursday, 22 October, at 8:30 p.m. ET (9:30 p.m. Rio), when Flamengo host Estudiantes at the Maracanã in Rio de Janeiro. Estudiantes, the club from La Plata in Argentina, drew the first leg 0-0 at home.
The final is a single match at the Estadio Centenario, where Palmeiras beat Flamengo 2-1 to win the 2021 title. Palmeiras will be chasing a fourth Libertadores title.
What Prediction Markets Say
Polymarket, a real-money prediction platform, priced Palmeiras at 50.5% to win the 2026 title at 11:26 p.m. ET on 21 October, ahead of Flamengo at 39.0% and Estudiantes at 7.8%. About US$35,800 had been traded on that market.
Why we show this: prediction markets turn real-money bets into a live probability that moves within minutes of the news, which is why investors, campaigns and newsrooms in the United States now follow them closely. We show them next to polls and official results, never instead of them.
What It Means for US Readers
Fans in the US can treat the Libertadores final as South America’s Champions League decider, with two Brazilian clubs among the three remaining contenders. Anyone planning to travel to Montevideo should wait for CONMEBOL’s ticket and kick-off announcements.
What Is Not Known
The kick-off time, ticket prices and US broadcaster for the final have not been confirmed in the reports reviewed. Injury and suspension lists for the final are also not yet known, and neither is Palmeiras’ opponent.
More: Latin America news in English, every day from The Rio Times.
Related guide: Copa Libertadores final 2026.
Palmeiras also chase the Brazilian cup: see our Copa do Brasil final 2026 guide.
Frequently Asked Questions
Did Palmeiras reach the Copa Libertadores final?
Yes. Palmeiras beat Fluminense 5-3 on penalties on Wednesday, 21 October 2026, after losing the second leg 1-0. The two-leg semi-final was level at 2-2 on aggregate.
When and where is the Libertadores final?
The final is on Saturday, 28 November 2026, at the Estadio Centenario in Montevideo, Uruguay. The kick-off time has not been confirmed in the reports reviewed.
Who will Palmeiras play in the final?
Palmeiras will meet the winner of Flamengo against Estudiantes. That second leg is on Thursday, 22 October 2026, at 8:30 p.m. ET (9:30 p.m. Rio), after a 0-0 first leg.
How did the penalty shootout end?
Palmeiras scored all five penalties. Fluminense scored three before goalkeeper Carlos Miguel saved Nonato’s kick and Marlon Freitas scored the winner.
Who do prediction markets favour for the title?
Polymarket priced Palmeiras at 50.5%, Flamengo at 39.0% and Estudiantes at 7.8% at 11:26 p.m. ET on 21 October. These prices are real-money bets, not polls.
Sources: O Povo, Portal do Palestra, Estadão, Montevideo Portal, Polymarket, CONMEBOL.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief