• In 1998 Kaunas city municipality began to collaborate with architect Eugenijus Miliūnas, commissioning him to design a new sports arena in the Kalniečiai park, because Kaunas sports hall did not meet the Euroleague technical requirements. However, after termination of project funding, the site was abandoned; a search for other places for the arena was started.
• In 2004, after a lengthy discussion it was decided to build the arena on the Nemunas Island.
• In August 2008 a contest was held and company Vėtrūna was chosen as main contractor for the project.
• On 26 September 2008 a capsule was officially buried at the construction site on the Nemunas Island, marking the beginning of Kaunas sports arena construction.
• On 18 January 2010 an agreement of handling and management concession of the Kaunas entertainment and sports arena located in the Nemunas Island was signed.
• On 18 March 2010 the arena was given a name of Žalgiris.
• On 18 August 2011 the arena was opened.
• In December 2011 arena was recognized as a sports infrastructure of the year (Sport Management Awards „Five Olympic rings“).
Capsule burial ceremony at the construction site on the Nemunas Island in 2008
Objectives Purpose – to facilitate the development of cultural (recreational) and sports related environment, through high-level events, providing an opportunity to promote tourism, sports tourism, and to improve the living environment of Kaunas region and the quality of life.
Mission – to actively develop and improve Lithuanian sports and cultural environment by providing high-level events. We create potential to develop tourism in the country and to improve people's quality of life in Lithuania.
Vision – to see that Žalgiris Arena becomes the most prominent place of attraction in Eastern Europe for sports and cultural events that would promote Lithuanian and foreign citizens active recreation. We strive to continue the legend.
• The largest arena not only in Lithuania but also in the Baltic states. The total area of the arena is 40,000 m2. The arena can accommodate 15,688 spectators during a basketball game and up to 17,500 spectators at other events.
• Exceptionally good acoustics, the most advanced technology inside the arena provides a platform for high-end events. In order to prevent sound reflections, two-layer suspended ceiling is installed, the roof is lined with acoustic and glass wool, and acoustic curtains are also fitted. In Lithuania these solutions are unique to this arena.
• Žalgiris arena sports the largest of its type information cube hung in Scandinavia and the Baltic countries. Cube is not only impressive in size, it is made of the most recent technology and highest quality of materials. Each of the Žalgiris stadium cube planes is about 21.5 m2. In Vilnius cube is less than a half, and in Šiauliai nearly one third of the size of the cube that hangs in Žalgiris arena.
• Žalgiris arena is the home arena to the legendary Žalgiris team that competes in the leading European Basketball league.