1977 saw the launch of a daring grand project – the construction of a large multi-purpose arena to be known as the Palace of Culture and Sport. At the time the arena represented a unique feat of architecture, and the Palace was designed to serve the sporting and cultural life of all citizens of Ostrava. The winning project was by the architect Vladimír Dědeček, who had already designed a number of important buildings in Slovakia, and the arena was finally opened in 1986.

Among the most interesting features of the design is the steel roof which is mounted on bearings instead of being fixed directly to the main structure. The arena also uses unique technology, including the vertically adjustable podium and the retractable seating areas, allowing it to be reconfigured in forty different ways depending on the needs of each individual event. The structure can hold up to 12,500 spectators and is a popular venue for international sporting and cultural events. The name ČEZ Arena has been in use since 2004.