In 1928, under the presidency of Juan Domínguez Orborne, Baron de Gracia Real, a 14,300 square metre plot of land belonging to the Nervión real estate company was leased to Pablo Armero, Marquis of Nervión, where the Nervión Stadium was to be built. To pay the rent for the land and the construction of the stadium, a certain number of bonds were issued at a price of five pesetas. The debentures were issued on 15 July 1928. The maturity date for the annual draw of 2,000 bonds was 31 July 1929 and the following years until ten years were completed. During the season the holders of these shares could exchange them for preferential tickets, although they forfeited the interest which was set at 5% per annum.
Renting this plot of land was really expensive and the construction of the stadium itself was much more costly. In the minutes of a board of directors meeting in March 1928, we read that the Marquis of Nervion offered a plot of land some 600 metres from the San Bernardo Bridge, under the following conditions: annual rent of 5,000 pesetas and construction of the pitch (fencing and stands) for 100,000 pesetas to be paid over ten years.
The truth is that not many bonds were sold and the president had to advance a large amount of money to carry out that great work, money that the president paid back in easy instalments that he collected after the matches were played. Sometimes he received 2,000 pesetas, sometimes 3,500 pesetas, and so on until the total of the money advanced was reached. The manager in charge of the treasury set aside the usual expenses for the match schedule and the surplus was divided into two parts, one to pay the players and coach and the other to reduce the debt contracted with the Baron of Gracia Real.
The Nervión Stadium was built on this land and was inaugurated on 7 October 1928 in a match against Real Betis Balompié.
Its capacity was initially 12,000 seats. Later it was increased to 20,000 seats and in special circumstances such as European Cup matches or matches against big rivals, the stadium could hold up to 27,000 seats.
A key date for this stadium is 29 April 1938, when, as President of Sevilla, Ramón Sánchez-Pizjuán signed the deeds for the purchase of the land occupied by the stadium. Sevilla acquired not only the land where the Nervión stadium was located, but also 42,000 m2 more in the surrounding area for the construction of a new stadium and the construction of other facilities for the practice of other sports. In addition to the main pitch, besides the dressing room and the snack bar, a training pitch (also known as the Subcommittee pitch), two tennis courts and a pelota court were also built. The 14,300 m2 occupied by the Nervión Stadium were bought at a price of seven pesetas per square metre, the 42,000 adjacent at a price of nine pesetas per square metre.
The amount of the purchase was 429,000 pesetas. In order to cover this purchase, new bonds were issued at a price of 500 pesetas.
The Nervión Stadium will always be remembered for the great successes that Sevilla FC achieved there. A League Championship and three Spanish Cups, as well as six Andalusian Cups and Sevilla's first participation in the European Cup, today the Champions League.
The Nervión Stadium also hosted a Spanish national team match on 15 March 1942, with the result Spain 4-0 France.