The stadium was refurbished for the hosting of the home matches of Ceres Negros F.C. at the 2016 AFC Cup. Fiber glass seats on the main grandstand for VIPs and the media tribune were installed. Media venues within the sports venue were also renovated particularly the press box, VIP rooms, press conference room, and the media working room. A VIP lounge and a new air conditioning system were also installed. By February 2016, the Negros Occidental Football Association were improving the floodlight illumination of the stadium. By December 2019, the stadium will be renovated for the upcoming Palarong Pambansa in 2021. The Panaad Park and Stadium has been the permanent home of the Panaad sa Negros Festival, an annual festival held every April. "Panaad" is the Hiligaynon word for "vow" or "promise"; the festival has religious significance, serving as a form of thanksgiving to the Divine Providence. The festival is participated by the 13 cities and 19 towns of Negros Occidental. The facility also serves as the home venue for Ceres Negros F.C., a Filipino football club which plays in the Philippines Football League. Ceres Negros plays their league and AFC Cup matches in the stadium. The Panaad Stadium has also hosted matches of the Philippines men's and women's national football team such as the men's competition at the 2005 Southeast Asian Games and the 1999 AFC Women's Championship.