Businessmen Hugh McColl and Jerry Richardson purchased the naming rights to the facility's playing field in 2011, and construction finished in October 2012.

Located on the UNC Charlotte campus, parking is expected to be limited on game days, although public transportation routes to reach the stadium are available.

In February 2008, a university-appointed committee presented a report to UNC Charlotte Chancellor Phil Dubois recommending the addition of a football program at the school, which would cost approximately $11.5 million per year and would be funded primarily through an annually increasing student athletic fee.

[8] In June 2008, Dubois presented a report to the school's Board of Trustees addressing the potential impact of the addition of a football stadium on the university.

[10] On December 11, 2009, the Board of Trustees approved a financing plan for football, which called for the university to borrow $40.5 million in state-issued bonds to construct a permanent football stadium and field house, citing a favorable bidding environment and greater interest in ticket sales as their reasons for building a new facility rather than expanding American Legion Memorial Stadium.

[11] On February 12, 2010, the University of North Carolina Board of Governors approved a student fee increase to fund the construction of the facility.

[13] On August 2, 2010, North Carolina Governor Bev Perdue signed the debt service fee bill into law to clear the way for stadium construction.

[20] The donation attracted some controversy, due to the fact that Richardson had recently lobbied the City of Charlotte for $87.5 million in public funds to renovate Bank of America Stadium.

[26] The stadium hosted its first major event when the 2013 Charlotte 49ers football team defeated the Campbell Fighting Camels 52–7 on August 31, 2013.

[27][28] The first intercollegiate points scored at the facility came when linebacker Mark Hogan (who had previously been one of the first members of the Georgia State Panthers football program) returned an interception for a touchdown on the second play from scrimmage.

The previously installed Hellas Matrix Synthetic turf[36] was removed and replaced with AstroTurf's RootZone 3D3 Blend and the Brock YSR Shock Pad.

[40] The 46,150-square-foot (4,287 m2) Judy W. Rose Football Center, named for the school's long-time athletic director, is located on the southeastern end of the facility.

[41][42] The facility also includes 145,000 square feet (13,500 m2) of practice fields with a Bermuda sod grass turf, which are connected by a 70-foot (21 m) pedestrian bridge.

The facility initially did not include floodlights, necessitating earlier kickoff times to avoid playing games at night until the 2015 season.

Brass plaques are mounted to the statues' brick pedestals with the names of the original FSL owners and others who contributed to the funding for construction of the facility.

[13] The school has announced various measures to control traffic on game days, including the closure of all entrances to the campus 5 hours prior to kickoff.

[51] The Lynx Blue Line provides light rail service to the stadium via JW Clay Blvd/UNC Charlotte station.