Budapest Sport Arena The new arena was constructed after a short circuit caused a fire in 1999 which completely destroyed the old Budapest Sport Hall, built in 1982 according to the plans of István Kiss. One interesting note is that the Sports Hall was inspired by the Yubileyny Sports Palace in St. Petersburg. It had a capacity of 12,500. It was the only enclosed building capable of seating an audience of several thousand for concerts, cultural occasions and sporting events. Construction of the new sports arena depicted on the coin began on 30 June 2001. Like its predecessor, it seats 12,500. It was completed on 13 March 2003. On 28 May 2004, the Budapest Sports Arena was renamed after László Papp, three-time Hungarian Olympic Champion in boxing, trainer and sports manager.