On July 28, 1895, they met in the Hipódromo Argentino de Palermo and founded the "Club Atlético Capital" designing Tomas Hagan as president.

In 1931 Porteño disaffiliated from the Football Association, due to the club refused to participate in a professional league, being the team subsequently disbanded.

Porteño's football team won a total of 2 championships between 1912 and 1914[6] and two Copa de Competencia Jockey Club, in 1915 [7] and 1918.

[3][8] Although the football team was disbanded, Porteño kept other sports active, such as rugby union, which is currently practised at the club facilities located in San Vicente.

The reason why Porteño went off football was that the club wanted to keep as amateur, and rugby union is not a professional sport in Argentina.

In 1951 Porteño won the long-awaited promotion to Primera División, but the team remained there just one season so the following year was relegated after losing its match at the hands of Estudiantes de Paraná.

After playing in different fields, the club finally could acquire a land located in Magallanes and Pardo streets of San Vicente in 1971.