This was made possible by the president at that time, Manuel Odria, who donated a piece of land for the construction of the stadium.

The stadium opened on December 27, 1974, with a capacity of 36,966 spectators and was inaugurated with Alianza Lima drawing 2–2 with Nacional.

[1] Currently, the Blue and Whites Fund, a group of investors managed by the club, is considering development of an ambitious project for the expansion and total modernization of the stadium.

This would include the 4 tribunes, playing field, underlying buildings, alternate court, Villa Intima and surroundings of the enclosure.

In June 2024, Alianza Lima presented a new, European style concept of the new stadium.