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King of Fighters Stadium is a downloadable stage for Super Smash Bros. Ultimate. It was released on November 6th, 2019 as part of Challenger Pack 4, being the home stage of SNK characters such as Terry. The stage is a large arena themed around The King of Fighters tournament, which was featured in the Fatal Fury series before branching out into its own series with the same name.
The stage’s layout is a simple flat ring, similar to most stages in the Fatal Fury and King of Fighters series, which is slightly elevated above ground level. It takes place in what appears to be a large football/rubgy stadium and converted into a fighting arena for an event, similar to both Pokémon Stadium and Boxing Ring. Like those stages, a large jumbotron that records the on-screen action can be seen in the background. Invisible walls are on both sides of the stage, blocking the blast line; these walls can be broken by dealing enough knockback to a fighter. Characters from other games such as mostly from Art of Fighting/Fatal Fury and The King of Fighters make cameos just outside of the ring, similarly to how they do while watching the fight in various The King of Fighters games; there are 20 in total. While they are normally random, the choice of music will guarantee specific characters to appear.
Though the stadium is not directly lifted from any specific stage from the King of Fighters, Fatal Fury, or Art of Fighting series, it is most similar to the stadium used in King of Fighters '96 for the winner's ceremony in its endings, and to help draw upon the more "realism" rooted settings the triumvirate series is known for. The use of invisible walls and the need for high knockback to fully defeat foes is also evocative of the wall breaking mechanics used in Real Bout: Fatal Fury, where enough force can be used against blocking or juggled opponents to break apart the "walls" to open up a ring out zone.