First badge in 1915
Photo of Palestra Italia in 1916
Photo of Palestra Italia State Champion in 1920
Photo of Palestra Italia State Champion in 1933
Palmeiras was founded on August 26, 1914, initially as Società Sportiva Palestra Italia, by Luigi Cervo, Vicenzo Ragognetti, Luigi Emanuele Marzo and Ezequiel Simone, four Italian men who were members of the Italian community of São Paulo. Its original colors were red, white and green (those of Italy). The name change occurred during World War II. Brazil entered the war supporting the allies and its dictatorship forced Palestra Italia to change its name because of the reference to Italy. The badge (a white ornamental "P" in a shield) is still present in the current one and the club has used red as a third colour (mostly in friendly games during the club's 75th anniversary).
Several other clubs whose names alluded to enemy foreign countries either disappeared (like Germania) or were renamed during the same period. Another Brazilian club that was once also called Palestra Italia is Cruzeiro Esporte Clube, from Belo Horizonte, Minas Gerais. However Palmeiras was the original Palestra Italia, since it was founded about a decade before Cruzeiro.
 Ups and downs
The club has had a rather irregular history alternating between periods of intense success and failure. In the 1960s and early 1970s for instance, the club collected trophies, having played several times the Libertadores Cup and won the Brazilian Championship (Campeonato Brasileiro) twice (1972/73). Then the club found itself in a fifteen-year hiatus without any significant trophies until 1992 when the club signed a sponsorship deal with Italian dairy giant Parmalat; the deal lasted for eight years and quickly turned Palmeiras into Brazil's richest club, allowing the club to purchase many valuable assets for their squad such as Edmundo, Rivaldo, Roberto Carlos, Zinho, and Antonio Carlos Zago. During the Parmalat era (which started in 1992) Palmeiras won the Brazilian Championship twice (1993/94), the Brazilian Cup (1998), the Mercosur Cup (1998) and the Libertadores Cup (1999). Palmeiras went to Division 2 in 2003 but came back to Division 1 the following year as the Division 2 champions.
 1999 - Libertadores Cup Winners
Luiz Felipe Scolari
Famous coach Luiz Felipe Scolari led the team to one of the club's most important titles: The 1999 Libertadores Cup. The final match was against Deportivo Cali from Colombia. Important players from that team were World Cup winners Marcos, Zinho and Roque Júnior, as well as Alex de Souza, Evair, Paulo Nunes and César Sampaio. In the first leg, in Cali, Deportivo beat Palmeiras 1-0. In the second leg, at Estádio Palestra Itália, Palmeiras beat Deportivo 2-1 and won the competition in the penalty shootout.
In the same year, in Tokyo, Palmeiras disputed Intercontinental Cup, but being defeated in the final by Manchester United.
 2000 - 4 Final Championship Matches
In 2000, Palmeiras disputed 4 Final Championship Matches. At first, the team won the Rio-São Paulo Tournament after beating Vasco da Gama in the final. In the first leg, in Rio de Janeiro, Palmeiras beat Vasco 2-1. In the second leg, at Estádio do Morumbi, the club from São Paulo beat Vasco 4-0.
The club again reached the Libertadores Cup final, this time against Boca Juniors from Argentina. In the first leg, in Buenos Aires, the game ended 2-2. In the second leg, at Morumbi stadium, in São Paulo, the game ended 0-0 and Boca won the competition in the penalty shootout.
In the same year, Palmeiras won Brazilian Champions' Cup after beating Sport Recife in the final. By the end of this year, the club again reached the Mercosur Cup final, but being defeated by Vasco da Gama.
Palmeiras against Liga Deportiva Universitaria in 2009
 Current Years
Parmalat sponsorship ended in 2000 and left the club in dire straits. After a mildly irregular season in 2001 — the biggest achievement was a Libertadores Cup semifinal against Boca Juniors— the club faced its worst year ever in 2002 and was relegated to the Second Division, which it won in the following year, returning to the First Division in 2004.
Palmeiras against São Paulo in 2007
Ever since its comeback, the club has been on the rise. The 2004 and 2005 seasons were rather successful when the team qualified for the Libertadores Cup but unfortunately was sent home before the end of the championship.The 2006 season was not good since the team finished the Campeonato Brasileiro in the 16th position, followed by a 7th position in 2007 season.
In 2008 Palmeiras made a partnership contract with Traffic, a Sports Marketing Agency. Besides that, the club made some big investments on some big name players and also on coach Wanderley Luxemburgo. This new strategy paid up, since the club won for the 22nd time the Paulista Championship.
Also in 2008 Palmeiras won the São Paulo State Cup with a 5 X 0 victory over Ponte Preta. Palmeiras also finished 4th in the Campeanato Brasileiro, which qualified them to the 2009 edition of the Copa Libertadores.
 Champion of The Century
Palmeiras' supporters in Estádio Palestra Itália
In its history, the club has won 22 championships of the State of São Paulo and 5 Rio-São Paulo Tournament, but the most important titles have been 6 national league titles ( 4 Campeonato Brasileiros and 2 Torneios Roberto Gomes Pedrosa), 4 national cups (1 Brazil Cup, 2 Taças Brasil and 1 Brazilian Champion's Cup), 1 Libertadores Cup, 1 Mercosur Cup and the 1951 Copa Rio . Palmeiras is recognised as one of Brazil's most victorious clubs. In 1999, the Club was claimed by Federação Paulista de Futebol 'Champion of The 20th Century' in Brazil.
 Honours (101)
Palmeiras's Hall of Trophies
Palmeiras's Hall of Trophies (other vision)
Libertadores Cup 1999 Trophy
Copa Rio 1951 Trophy
 Honours of professional football (95)
 Official honours (48)
 Continental Competitions (CONMEBOL) (2)
* Libertadores Cup: 1999
* Mercosur Cup: 1998
 National Competitions (CBD/CBF) (10)
* Campeonato Brasileiro First Division: 1972, 1973, 1993, 1994
* Brazil Cup: 1998
* Torneio Roberto Gomes Pedrosa: 1967, 1969
* Taça Brasil: 1960, 1967
* Champions' Cup: 2000