Leaders of Philadelphia's sports organizations gathered at the Philadelphia Chamber of Commerce in March 1920 and announced their intention to build a 200,000 seat sports stadium to attract national and international sporting events. The city immediately submitted its candidacy to host the 1924 Summer Olympics. At the time, the University of Pennsylvania's Franklin Field was the city's largest ballpark with a capacity of 30,000 seats; the Philadelphia Athletics' Shibe Park sat 23,000, and the Phillies' National League Park sat 18,000. The initial meeting in 1920 favored building the stadium as a memorial to the nation's war dead and placing it in Fairmount Park at its entrance to the Benjamin Franklin Parkway.

The stadium would be built as part of the 1926 Sesquicentennial International Exposition. Originally known as Sesquicentennial Stadium when it opened April 15, 1926, the structure was renamed Philadelphia Municipal Stadium after the Exposition's closing ceremonies. In 1964, it was renamed John F. Kennedy Stadium in memory of the 35th President of the United States who had been assassinated the year before.

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