The Vila Belmiro was one of the venues of the 1949 Copa América, hosted the 1962 Copa Libertadores final and the 1998 Copa CONMEBOL final. It has also hosted a Copa do Brasil final in 2010. Due to its relative-low capacity, Santos has used other stadiums for high-profile matches such as the Estádio Palestra Itália, Pacaembu and Morumbi, all located in São Paulo, and the Maracanã in Rio de Janeiro. Current Santos President Luís Álvaro Ribeiro and other club directors are agreeing on building a stadium in a city nearby Santos called Cubatão, a stadium for 40,000 people which would become Santos' home field for almost 70% of the games during the season which would increase the team's profit.