The new stadium, designed by Gensler,[3] meets the highest world standards of its kind, and arises from the need to receive a larger number of spectators than the traditional University Stadium of the Central University of Venezuela (Estadio Universitario), which cannot be enlarged because it is part of the campus of the University City of Caracas, an architectural complex that was declared a World Heritage Site in 2000 by UNESCO[4] Inaugurated on February 2, 2023, by Venezuelan President Nicolas Maduro, it hosted 2023 Caribbean Series; the championship game between Venezuela and Panama broke the tournament's attendance record for a championship game, with 35,691 fans in the stands.

[5][6][7] Planned as early as 2013, the stadium was originally named "Estadio Comandante Hugo Chávez,"[8] after the late Venezuelan president, but this generated controversy especially in sectors of the political opposition in Venezuela.

[14] For years, the possibility of building a new baseball stadium was evaluated due to the fact that the one located in Ciudad Universitaria had exceeded its capacity.

In 2013 it was finally decided to approve a project as part of the Hugo Chávez Park in La Rinconada, a complex that also includes among others a Football stadium.

The president of the Venezuelan Professional Baseball League, Giuseppe Palmisano[15] said that although initially the 2023 Caribbean Series would be held only at the University Stadium of the UCV (San Pedro Parish, Caracas) and the Forum State of La Guaira (Macuto Parish)[16] it is expected that the structure will be completed in November 2022 so that it can also host the event to be held in February 2023.