In 1919 there was a new splitting in Argentine football, so both leagues were played at the same time: official Asociación Argentina de Football (with Columbian as one of its teams) and dissident "Asociación Amateurs de Football". During that season, Columbian was going through a severe economic crisis, disputing its last game as "Columbian" vs. Boca Juniors in the 6th fixture. Some executives of recently promoted Club Almagro, leadered by Miguel de Zárate made Columbial a merger proposal, which was accepted. Therefore Almagro renamed "Sportivo Almagro" and continued playing in Primera División (debuting in the 7th fixture vs Platense) under its new denomination, which avoided the club to be disaffiliated.
Almagro played one year in first division in 1938 after winning the first second division tournament that awarded a promotion. Later the team won the 1968 second division tournament, but had to participate in the Reclasificatorio tournament with first division teams and other second division teams and didn't win promotion. The Tricolores played most of the time in second division, a few years in third division, but in 2000 and 2004 they won the promotion to first division, only to be relegated both times after only one season playing at the top level.