Wilstermann is one of the three most frequent winners of the Primera Division de Bolivia and the first Bolivian team to qualify to the Copa Libertadores semi-finals.

On November 24, 1949,[2] a group of employees of Lloyd Aéreo Boliviano met to form a football club that would be identified with the company and become the pride of its workers.

After two hours of debate, they founded the club with the name "San Jose de la Banda" in tribute to the area and the airport in Cochabamba.

In 1953, Captain Walter Lemma, manager of the company and partner of the deceased, suggested that both the airport and the team bear the name of the pilot, who had been very dear to the institution.

Wilstermann had no clear rival for first place and its good campaign forced it to seek to move into the AFC championship, which was played in La Paz and Oruro between teams from those cities.

In 1959, Wilstermann repeated as national champions, earning the honor to be the representative Bolivian side in the first edition of the Copa Libertadores de América in 1960.

After many years we learned that the full intention of the South American Football Confederation, which at that time was based in Bogota, was to eliminate Wilstermann and promote Santa Fe to the semi-finals," claimed then Wilster club chairman, the late Jorge Rojas.

Following a period of club organizational turmoil and the founding of the professional football league of Bolivia, the Liga de Fútbol Profesional Boliviano, Wilstermann enjoyed its third "golden age", winning national titles in 1980 and 1981.

During this period, the team looked to achieve something sought unsuccessfully by many Bolivian football clubs before: qualifying for the second phase of the Copa Libertadores de America.

In opening Copa round play, Wilster beat good teams Técnico Universitario, Ambato and Barcelona SC.