Gustavo Costas returns to Cerro Porteño after Ariel Holan's exit

It took just four days to unravel everything. First came elimination in the round of 16 of the Copa Libertadores against Palmeiras, and only a couple of matchdays later, the final blow: a loss in the Paraguayan Superclasico against Olimpia. That combination proved fatal for Ariel Holan, whose spell in charge of Cerro Porteno has now come to an end.

The Argentine coach had arrived in Barrio Obrero in late March, hoping to give the Ciclon a competitive identity. He didn't even make it to four months on the job. In that stretch he took charge of 22 matches, posting 8 wins, 5 draws and 9 losses, a 43.9 percent win rate that ultimately wasn't enough to keep him on the bench.

Under Holan, Cerro Porteno finished third in the Torneo Apertura and advanced to the round of 16 of the Libertadores, where it was eliminated by Palmeiras, of all teams. But what weighed most heavily was something else: he lost both Superclasicos he oversaw against Olimpia. At a club where that fixture carries as much weight as any title, that record proved impossible to survive.

The return of a familiar name

As soon as Holan's departure is finalized, Cerro Porteno already has its replacement lined up: Gustavo Costas, who is currently a free agent after his stint at Racing Club de Avellaneda. He's no stranger to Barrio Obrero: he coached the Ciclon between 2005 and 2007 and won the title with the club in 2005. His most recent job in Paraguayan soccer came in 2019, in charge of Guarani.

Rumors circulating on Monday spoke of a "verbal agreement" between the parties, pending the formal resolution of Holan's exit to make the hire official. Costas, 63, would reportedly be presented on Friday.

What makes his return especially appealing is that he arrives in excellent form. At Racing, Costas won the 2024 Copa Sudamericana and the 2025 Recopa Sudamericana, and also reached the semifinals of the 2025 Copa Libertadores. He's not coming back just for nostalgia's sake: he's coming back on a hot streak.

While the deal is being finalized, the Ciclon has immediate business to attend to. This Thursday, at 6:30 p.m., it will visit Resistencia at La Arboleda for the Copa Paraguay, a match that will likely be handled on an interim basis by Nelson Cabrera. Costas's debut on the bench wouldn't come until Sunday, against Libertad, at 4:00 p.m. at La Nueva Olla, for matchday 7 of the 2026 Torneo Clausura.