1997 Copa Libertadores Finals

Final Group 4 standings

Team	Pld	W	D	L	GF	GA	GD	Pts
Grêmio	6	4	0	2	10	3	+7	12
Cruzeiro	6	3	0	3	6	5	+1	9
Sporting Cristal	6	2	2	2	4	5	−1	8
Alianza Lima	6	1	2	3	2	9	−7	5

Both Cruzeiro and Sporting Cristal were drawn into Group 4, together with their compatriots Grêmio (1996 Brazilian champions) and Alianza Lima (1996 Peruvian championship 2nd place), respectively. Cruzeiro's first group match was against Grêmio in Belo Horizonte. Cruzeiro lost 2-1, with their goal scored by Aílton. Cristal's first group match was against their rivals Alianza, in Lima. The Peruvian teams tied by 0-0.

Cruzeiro second group match was on the road against Alianza Lima. The Brazilian team lost by 1-0. They stayed on the road to play Sporting Cristal. The Peruvian team won by 1-0, and Cruzeiro lost its third game in the tournament, with a few chances of classification to the next stage.

Sporting Cristal third group match was in its home ground too, now against Grêmio, and winning again by 1-0.

Cruzeiro fourth group match was against Grêmio, but this time in the rival's ground, in Porto Alegre. With the obligation of winning to keep the chance of classification alive, Cruzeiro made 1-0 with Palhinha and scored its first three point in the competition. On the same day, Sporting Cristal tied again by 1-1 against Alianza Lima.

The next two games Cruzeiro played at home. Alianza Lima visited first and lost the match 2-0, goals by Reinaldo and Palhinha. In Cruzeiro's last match of group play, they played host to Sporting Cristal, whom they beat 2-1, goals by Alex Mineiro and Reinaldo.

Sporting Cristal last group match was visiting Grêmio in Porto Alegre and losing by 2-0.

Cruzeiro and Sporting Cristal finished 2nd and 3rd, respectively, which advanced them to the Round of 16, together with Grêmio, who finished 1st.

In the round of 16, they played against Ecuatorian club El Nacional. The first leg was played in Quito and Cruzeiro lost the match 1-0. Second leg, played at home, Cruzeiro won 2-1, with Marcelo Ramos scoring twice, sending the decision to the penalty shootout. In the penalty kicks, Cruzeiro won 5-3, advancing to the next stage.

Cruzeiro's quarterfinal match-up was against fellow Brazilian side Grêmio over again. The first leg, played at home, was won 2-0, goals by Alex Mineiro and Elivélton. The second leg, played in Porto Alegre, was lost 2-1, Fabinho scoring, with Cruzeiro advancing to the next stage by goal difference (3-2).

Cruzeiro's semifinal match-up was against Chilean club Colo-Colo. Cruzeiro won the first leg 1-0, goal scored by Marcelo Ramos, in Belo Horizonte. In Santiago lost 3-2, with Marcelo Ramos and Cleison scoring the goals, deciding again in the penalty kicks. In the penalty shootout Cruzeiro won 4-1, advancing to the Copa Libertadores Final Matches after 20 years.

As of the finals, Cruzeiro has an efficacy rating of 50% (6 wins, 6 loss).

In the round of 16, they played against Argentine club Vélez Sarsfield. The first leg was played home and the teams tied 0-0. Second leg, played away in Buenos Aires, Cristal surprisingly won 1-0, advancing to the next stage.

Sporting Cristal's quarterfinal match-up was against Bolivian club Bolívar. The first leg, played in La Paz, Cristal loss 2-1. But in the second leg, played home, the Peruvian squad won 3-0, advancing to the next stage by goal difference (4-2).

In the semifinals Sporting Cristal met another Argentine club, Racing Club. In the first leg, played in Avellaneda, Cristal loss 3-2. In the second leg, played home, Cristal won 4-1 and advanced to the next stage over again by goal difference (6-4). Was the best season of a Peruvian team in Copa Libertadores.

As of the finals, Sporting Cristal has an efficacy rating of 50% (5 wins, 3 draws, 4 loss).