Rio de Janeiro, Feb 24 (IANS): The Copa Libertadores -- South America's premier club competition -- will feature a single final at a neutral venue from 2019, the region's football governing body CONMEBOL has said.

The decision to scrap the final's traditional two-legged home and away format brings the Copa Libertadores in line with other major club competitions such as the UEFA Champions League, reports Xinhua news agency.

"More than a game, this will be a great sporting, cultural and tourist event that will bring great benefits to South American football, its clubs and its fans," CONMEBOL said in a statement on Friday.

"It will offer a world-class sporting spectacle and a better experience at h ome and in the stadium."

Instead of being played midweek, the final will be moved to a primetime Saturday slot to maximize exposure and earnings potential.

The Copa Libertadores features the strongest teams from CONMEBOL's 10 member nations.

The winners qualify for the Club World Cup, contested annually by the champions of FIFA's six regional confederations plus the tournament hosts.