Originally planned and built as a football venue in 1984, in 2006 it was re-built thanks to a FIFA project called GOAL.[3][4]
Local club Peñarol attempted to acquire the stadium in 1993, but those negotiations did not prosper. The club made a new attempt in 2001 with a project that included its expansion to 30,000 spectators with an investment of US$8 million. With a period of concession of 30 years, refurbishments also included new press boxes, dressing rooms, and parking lot. Nevertheless the Montevideo Neighborhood Council rejected the project due to "the negative impact for the area (...) the deterioration of the quality of life of the residents and the devaluation of their patrimony".[5]
In December 2012 the Municipality of Montevideo signed a contract of concession with both bodies, Uruguayan Rugby Union (URU) and Uruguayan Football Association (AUF) for ten years.[2] The URU used the stadium for its headquarters, its high performance training center, and as the regular home of its national teams, most notably the senior men's team.[1]
After the agreement signed in 2012, Estadio Charrúa became a frequent venue of the Uruguay national team, having hosted several World Cup qualification and test matches. The stadium has also been Peñarol's home venue for their games at the Super Rugby Americas since its first edition in 2020.