The stadium was named after Francisco Stédile, who was Caxias' president during its construction.

The stadium is nicknamed Centenário because it honors the centennial anniversary of the Italian colonization of Rio Grande do Sul.

The stadium was built because Caxias was allowed to dispute the 1976 Campeonato Brasileiro Série A.

The inaugural match was played on September 12, 1976, when Caxias beat Internacional 2–1.

The stadium's attendance record currently stands at 30,000 people, set on August 16, 2009, when Caxias and Guaratinguetá drew 1-1.