The stadium opened in 1926 as a multi-sport venue of the domestic sport giant Botev Plovdiv. In 1949 the stadium was nationalized by the communist authorities and later same year was given to the recently established FC Spartak Plovdiv. The stadium was redeveloped in the period 1982–84. Presently the stadium holds 3,500 people, with more standing room, and continues to be the home ground of Spartak. The stadium is named after Todor Diev, the greatest player in Spartak's history.
The stadium's highest recorded attendance of 11,353 was in a Bulgarian Cup semi-final game against Blagoevgrad`s FC Pirin (0:0) on 27 April 1994.
The stadium is also known as Plovdiv's Loftus Road - a tribute to the EnglishteamQPR, which plays in the same hooped kit as Spartak.