In the past its capacity was listed as 35,000 spectators, however, even though its grandstands have been extended in the late 1990s, the stadium had 27,650 seats due to regulations enforcing improved safety and comfort, before was demolished in November 2010.

One of the 2000 Campeonato Brasileiro Série A final matches, between São Caetano and Vasco was played at Palestra Itália.

One of the 2004 Copa do Brasil final matches, between Santo André and Flamengo was played there too.

Besides football matches, the Palestra Itália Stadium, often hosted important Brazilian and international musical events because of its central location in São Paulo, like A-ha, Human Rights Now!, Ozzy Osbourne, Iron Maiden, Metallica, Aerosmith, David Bowie and Guns N' Roses.

The last match played by Palmeiras on Palestra Italia was a friendly against Boca Juniors on 9 July 2010.