It was built in 1976 in preparation for the 1978 World Cup. It has capacity for 40,268 spectators.
The stadium used to be named Ciudad de Mendoza ("City of Mendoza"), but was later renamed after the events of the Falklands War of 1982. The new name reflects Argentina's claims of sovereignty over the Falkland Islands (Islas Malvinas in Spanish).
After the arrival of Godoy Cruz to the Argentine Football First Division, the stadium will start having a wider use, because, until 2006, no football team from Mendoza had ever reached that level, although some have played in the Torneo Nacional, which was the top national tournament between 1967–1985 and Argentinos Juniors used it for a season as their home court.