[1] It is located at Altona Volkspark, adjacent to the football stadium Volksparkstadion and the Volksbank Arena in Hamburg's western Bahrenfeld district.

Construction costs totaled approximately 83 million Euro (ca.

The construction was funded by the Finnish entrepreneur Harry Harkimo and the city of Hamburg, who sold Harkimo the land for a symbolic price of one Mark and also financed infrastructure improvements with 12 million Marks (about 6.1 million euros) as a preparatory measure.

In October 2007 the arena was sold to Anschutz Entertainment Group for an estimated 75 million Euros.

In 2010 the sponsor changed to Spanish telecommunications company Telefónica, naming the arena as "O2 World Hamburg".