It is the home stadium of FC Kremin Kremenchuk, its Second team, and is named after the club's former honorary president, Oleh Babaiev (1965–2014).

[8] Kremenchuk State University owner of Polytechnic Stadium, was unwilling to sell[9] it to Kremin and did not have funds to repair it.

Kremenchuk mayor Mykola Hlukhov, in January 2010, stated that finances from Government of Ukraine and from Poltava Oblast budget never arrived.

Later in the year funds from Poltava Oblast budget were received and with additional money from the city, construction was completed.

Professional Football League of Ukraine executive director Serhiy Makarov and Kremenchuk Mayor and Honorary President of Kremin Oleh Babaiev were main officials to give speeches.

[21] Unian citing interview with honorary president Oleh Babaiev, gave number of extra seats as 750.

[6][23] Kremenchuk Mayor and Honorary President of Kremin Oleh Babaiev was shot dead in his car in front of his house on July 26, 2014.

[25] During summer of 2019, the artificial surface was replaced in accordance with the Regional Program for the Development of Physical Culture and Sports for 2017–2020.

[30] On 27 June 2022, during the Kremenchuk shopping mall attack by the Russian Armed Forces, Kremin-Arena infrastructure and club bus suffered some damage.

[5] The stadium has two blocks: first is for spectators and includes ticket offices, toilets, buffet, press box, VIP stand.

Kremenchuk City Council passed a bill on non-school educational institutions, which included a provision to build a second stand at the cost of ₴ 4,500,000.

[47] On 11 November 2011, a friendly match between city council members of Kremenchuk and Kharkiv was held as part of preparations and festivities for UEFA Euro 2012.

[48] In honor of 20th anniversary of Ukrainian Armed Forces Day, on 6 December 2011, a match was held between city council members of Kremenchuk and soldiers from 107th Rocket Artillery Brigade.

[55][56] It was proposed that Kremenchuk City Council cession on 23 April 2020, would take place in the stadium due to meeting restrictions caused by COVID-19 pandemic.

Kremin's longest unbeaten streak at home extended from 14 April 2018 to 29 July 2020, a period encompassing 23 games which lasted for 27 month.