The stadium, built by German architect Paul Bonatz, was a donation from local industrialist Willy Sachs to the City of Schweinfurt. As the club's patron, Willy Sachs designated a privileged right of use of all facilities for 1. FC Schweinfurt 05.
Leading politicians of the Third Reich attended the opening ceremony on 23 July 1936. Three days later, the new Willy-Sachs-Stadion saw its first game, a 2–2 draw between 1. FC Schweinfurt 05 and 1935 German champion FC Schalke 04.
The stadium has been top-tier venue all the time between 1936 and 1963, and was home stadium to second tier football for many of the following years, most recently during the 2001–02 season. In addition, from 1939 on Schweinfurt 05 played a large number of German Cup matches at the stadium.
Willy-Sachs-Stadion hosted the 2nd Fistball World Championships in 1972 as well as the Fistball European Championships in 2012. During the 2006 FIFA World Cup in Germany, the stadium served as training ground for the Tunisia national football team. In the 2008–09 season, nearby football club TSV Großbardorf had to move to Schweinfurt due to Regionalliga legislations on stadium capacity.
The sports complex regularly is venue for athletics competitions and championships on national level. Occasionally, the neighbouring U.S. Army Garrison, located in Schweinfurt until 2014, had used the stadium for military parades.