Is the song "Fernando" about any specific instance?

So, I’m doing this Strat-O-Matic replay where I decide the 1993 Indians are close enough to 1st and the Orioles far enough back i will play around a little and have them trade for former super-pitcher/by then a guy struggling to rebuild his career after injury Fernando Valenzuela. And, they start winning a lot, so I imagine this parody of the hit song "Fernando’ being played on stations all over NE Ohio. “There was something in the park that night, the stars were bright, Fernando. They were cheering there for you and me, for victory, Fernando. And even if we’d wind in last place, you’re still our friend. If I had to do the same again, I would my friend, Fernando.”

Then, I get to thinking about the real words, about this woman reminiscing with, I suppose, her husband, Fernando, about the time, 30 years before, when people shouted for them for liberty, and how they tried to win but didn’t. And, I wondered, was there a specific election or, more likely, rebellion in which a man named Fernando and his beloved tried but failed to give the people liberty, or not?

Of course, if it had happened that way, it wouldn’t be the first time - this is the same city that produced “Bab, bad, Cleveland Browns” in 1989 to the tuned of “LeRoy Brown.”

I’d always assumed it was about the Spanish Civil War, but there’s apparently a 144 page book that argues that it was about the U.S.-backed coup in Chile in 1975 in which Augusto Pinochet came to power.

Now when I think about that song, I picture Dewey dancing with Maude.