Tamás Deutsch, Member of European Parliament and president of MTK Budapest, announced that in 2016 a new stadium will be built, budgeted between 6 and 6.5 billion HUF.

The first phase of the construction would start at the end of the 2013–14 Hungarian League season with the demolition of the current stadium.

At the ceremony, Kálmán Szekrényessy's great-great-grandchild, founding member of the club, József Kanta, the captain of the MTK Budapest FC in the 2015–16 Nemzeti Bajnokság I season, Olivér Horváth and Maja Pásztor, representative of the Sándor Károly Academy, were present.

[12] On 9 December 2015, the first post was placed officially with the aid of two male MTK Budapest footballers Sándor Torghelle, Ákos Baki and one female Lilla Nagy.

[20][21] At the opening ceremony, Viktor Orbán, prime minister of Hungary delivered a speech, followed by Member of European Parliament and president of MTK Budapest, Tamás Deutsch.

[23] The first goal was scored by the MTK icon Sándor Torghelle in the 75th minute of the match which finished a 1–0 victory.

Russia hosted Hungary in the 2017 UEFA European Under-17 Championship qualification Elite round.

The hosts were not the MTK Budapest because they were eliminated earlier from the 2016–17 Magyar Kupa season by Dorog but Vasas SC.

In the 2018–19 Nemzeti Bajnokság I and the 2018–19 Magyar Kupa season Budapest Honvéd FC played their home matches in the stadium during the reconstruction of the Bozsik József Stadion.

The original playing field was moved 90 degrees within the stadium's plot and thus narrowed its length with large grey concrete walls placed beyond each goal.

Its comparatively large amount of private skyboxes to its overall modest seating capacity is a ratio that is almost unprecedented globally.

[29] After seeing photos of the newly built stadium many voiced displeasure at the prominence of walls behind the goals as it created a "very raw and imposing impression" (the popular pejorative nickname for them are the "wailing walls")[30] and cast doubt on the safety of the stadium for players.

[32] The southern goal was named after the former MTK Budapest FC and Hungary national football team goalkeeper Márton Fülöp who died at the age of 32 from cancer.