On 10 June 1979, Albert Park hosted the inaugural NBL Grand Final, which saw the St Kilda Saints defeat the Canberra Cannons 94–93.

Larry Sengstock, with 33 points scored for St Kilda, won the first NBL Grand Final Most Valuable Player Award.

The stadium was closed and demolished in 1997, and was replaced with basketball facilities incorporated into the Melbourne Sports and Aquatic Centre that was built on the nearby within Albert Park.

For a number of years, attached to the back of the stadium was a house that was the official residence of the general manager of the Victorian Basketball Association.

Andrew Gaze later told that his father and he would spend many nights by themselves either in their back yard (on one of the 7 outdoor courts) or in the 2,000-seat stadium working on his game, though Lindsay just said that to him it was father and son spending time together.