The team was founded in 2021 to compete in Súper Liga Americana de Rugby.

Cobras became the second professional Brazilian franchise after Corinthians, the only team which did not play a single match in the cancelled 2020 season.

Corinthians had only played one warm-up match in Montevideo against Peñarol Rugby (a 45–14 defeat, on February 26).

SLAR's season was cancelled in March, one day before Corinthians' first match against Olímpia Lions in Asunción.

When the original team ended its contract in 2020, the CBRu decided to create a new franchise.