In 2005, Drake Stadium underwent significant improvements to make it one of the premier track and field facilities in the country. The Stadium, which has a capacity of 14,557, is home to the football and men's and women's soccer teams as well as the annual Drake Relays.

Following the 2005 Iowa State High School Track and Field Championships, the track was reconfigured and the new Mondo-surfaced track had lanes widened from 42 inches to 48 inches. 

The $15 million renovation project features permanent lights, a video scoreboard, state of the art artificial grass infield by FieldTurf for football and soccer and improvements to the seating, restrooms and concessions as well as the press box.

In addition to the Drake Relays, the Stadium plays host to many other major events nationally and statewide. Des Moines was awarded in March 2012 the 2013 USA Track & Field Championships to be held in Drake Stadium for the second time in four years, after hosting the first time in 2010. The stadium also has been popular for NCAA competition, hosting the 2007 NCAA Midwest Regional Track and Field Championships, as well as the 2008, '11 and '12 NCAA Men's & Women's Division I Outdoor Track and Field Championships. Drake Stadium also hosts the Iowa High School Boys and Girls State track championships every May.

Drake Stadium has become a symbol on the Drake campus. It's a spectacle every April as thousands of fans pack within its walls to cheer on track and field competitors from all over the world.