The stadium was designed by Kjell Kosberg of Kosbergs Arkitektkontorer. In addition to featuring the stadium, the complex has of commercial space. The whole structure cost NOK 212 million, of which NOK 160 million was for the stadium itself. The stadium is located at Reknes, just west of the city center, on the shore of the Moldefjord. The exterior of the building is clad with two colors of granite, glass and aluminum. The building was financed by Kjell Inge Røkke, although NOK 10 million was paid by the municipality and NOK 2.7 million by Norsk Tipping. In 1999, the structure won the City Prize, that is awarded to the Norwegian building project that is both profitable, innovative and increases the value of the surrounding area. The stadium was also nominated to FIABCI's Prix D' Excellence.