The Government of Pará state spent almost 50 million dollars to turn it into an Olympic stadium.
The stadium’s alternative name "Estádio Estadual Jornalista Edgar Augusto Proença" honors the legendary Para journalist "Edgar Proença", the first Pará radio station Rádio Paraense.
Estádio Olímpico do Pará is an Olympic stage in Brazil, owned by the Pará State Government. Initially, it was built as a football stadium on the order of the then Pará State Governor Alacid Nunes. The construction work began in the year 1969. Although, it was initially planned to build with a capacity of 120,000 seats but was opened on 4th March 1978 with a capacity for around 70,000 spectators. Its current capacity is 45,007. Alcyr Meira, a local architect, designed the stadium. Major football clubs from Belém such as Paysandu Sport Club, Clube do Remo, and Sport Club Belém have been using the stadium as their home ground since opening. In 2002, it went through renovation making it suitable for hosting Olympic Games.
On 4th March 1978, in the inaugural match, a Pará State all-stars team achieved a glorious 4-0 victory over a Youngsters Uruguay national team.
A record number of 57,248 cheering fans visited the stadium after a major renovation in 2002 to watch Boca Juniors playing against Paysandu team. The former won the match by 4-2.
Clube do Remo played against Paysandu in the first match after its renovation on 1st May 2002 which resulted in a 2-2 draw.
On 31st July 2002, Cruzeiro beat Paysandu by 2-1 in the Copa dos Campeões (Brazilian Champions Cup) final which is counted as one of the most important matches recorded in its history.
On 11th July 1999, a huge crowd of 65,000 people witnessed a game between Remo and Paysandu. It was the highest recorded attendance.