The human silhouette was captured moving through the bleachers during a Fox Sports live transmission of Bolivia's The Strongest versus Defensor Sporting, of Uruguay, in La Paz's Hernando Siles Stadium.
Observers noted the figure appears to go unnoticed by fans seemingly seated in its path.
Local media added that it moves curiously fast given the cramped seating in the stadium which allows only limited room.
A number of people also took to social media where they claimed to identify a second shadow near the northern end of the stadium.
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