After the arena was designed by Austrian company AMR the construction began on March 16, 2004. On August 31, 2007, the first ice hockey game was played as a part of the 2007 Super Series, a junior hockey challenge between Canada and Russia.
The original owner of the arena was Roman Abramovich, however in 2012 he donated it to Avangard Omsk.
In 2018, the arena was found to be structurally deficient, and had to be demolished. The demolition was completed in September 2019. G-Drive Arena was built in its place and opened in September 2022 for the opening of the KHL 2022–23 season.
