The host country, Uruguay, won it for a record-tying 14th time by beating Brazil 5–3 in the penalty shootout after a 1–1 draw in the final.

All 10 CONMEBOL members took part, with Mexico and the United States invited in order to reach 12 teams.

[2] The United States was the surprise of the tournament, beating defending champions Argentina 3–0 and winning the group.

[3] The United States went on to defeat Mexico on penalties in the second round but then lost to Brazil 1–0 in the semi-finals.

With four goals, Gabriel Batistuta and Luis García both ended the tournament as top scorers.