Poor conditions and maintenance of Bislett forced Vålerenga to move to Ullevaal and a groundshare with FK Lyn.

After the second place in 2004 and the league title in 2005 as well as shipping magnate John Fredriksen's deletion of the club's debt in 2003, the talks of building a ground for Vålerenga resurfaced.

Following a press statement made on 15 May 2008, Vålerenga announced that they will be moving home to Valle Hovin after purchasing the area of the proposed stadium for the symbolic sum of 1 Norwegian Krone.

[4] On 10 June 2014, the European Free Trade Association Surveillance Authority accepted the plans for the stadium.

In October 2017, Norwegian technology company Intility reached an agreement with Vålerenga to buy the stadium's naming rights for ten years.