[2][3] Panaad hosted various international sporting events particularly football when Bacolod co-hosted the 2005 Southeast Asian Games and the 2012 AFC Challenge Cup qualification against Mongolia.

[6] The decade-old stadium was considered to host the semifinal matches of the 2010 AFF Suzuki Cup between the Philippines and Indonesia, but was disqualified for not satisfying the standards of the ASEAN Football Federation.

[7] Despite the minor improvements, Panaad hosted a match between the Philippines national football team and Mongolia in the 2012 AFC Challenge Cup qualification on February 9, 2011 with an attendance of 20,000 people, filling the grandstand, bleachers, and standing room areas.

[8][9][10] In early 2016, it was reported that the provincial government of Negros Occidental is planning to increase the seating capacity of the Panaad Stadium in Bacolod if it wins its bid for the hosting of the 2017 Palarong Pambansa.

This is in line with the recent FIFA and AFC stadium requirement of at least 30,000 seats in order to host an international football tournament.

Panaad is the Hiligaynon word for "vow" or "promise"; the festival has religious significance, serving as a form of thanksgiving to the Divine Providence.