Rheinpark was officially opened on 31 July 1998 with a match between FC Vaduz, the Liechtenstein Cup holders at the time, and 1. FC Kaiserslautern, the then Bundesliga champions. 1. FC Kaiserslautern won 8–0.
The stadium has a seating capacity of 5,873, with additional standing room giving it a total capacity of 7,584. The stadium cost 19 million CHF to construct.
In 2006, the stadium was upgraded with the South and North grandstands gaining covers, and improvements to the training facilities. In June 2007, the stadium hosted concerts by Clueso and Herbert Grönemeyer.