The stadium was inaugurated on 8 May 2003 with a friendly between UD Las Palmas and RSC Anderlecht which was played in front of a full-capacity seats. The mach ended in favour of the hosts with a score of 2-1. The first scorer in the stadium was Rubén Castro.
With a capacity of 32,150 seats, it is the largest sports venue in the Canary Islands.
Starting from 11 November 2014, the stadium went under restructuring works which will last for about 16 months. After the remodelization, the running track will be removed to turn the venue into a football-specific stadium, with the seats closer to the playing ground. The capacity of the stadium will be 33,070 seats.