The field is named after local businessman and owner of the Sacramento Surge, Fred Anderson.

Its alignment is nearly north-south, offset slightly northwest, and the street-level elevation is approximately 35 feet (11 m) above sea level.

On September 26, 2024, Sacramento State President Luke Wood, athletic director Mark Orr, and Hornets football head coach Andy Thompson announced plans for a new 25,000-seat stadium to be built on the site of the current Hornet Stadium, with construction to begin at the end of the 2024 season.

[5] The effort to replace Hornet Stadium comes as part of a push to elevate Sacramento State to the FBS level and gain entry to the Pac-12 Conference; the Sacramento-Stockton-Modesto DMA is the 20th-largest media market in the nation and would be the second-largest in the Pac-12.

Following the announcement, a group of local business and political leaders, named the SAC 12, announced that it had raised $35 million in NIL funds to support the effort; the group includes California State Senators Angelique Ashby and Melissa Hurtado, Assemblymembers Stephanie Nguyen and Joe Patterson, and Hornet football alum and former San Francisco 49er Otis Amey, among others.