It was apparently named after someone who had the nickname "******", back in the 1920s. That was (apparently) how he was known to the local community, and (apparently) when the stadium was built, how the town wished to have him remembered.
I would suggest that it IS history revision. Local history, surely, but history all the same.
Then why not re-name it after the guy's full name rather than a nickname?
History revision? no
ETA: What if the name of the stand actually adversely affects the commercial prospects of the stadium? Would you insist that a commercial organisation keep an unpopular name for the product (I recall an elderly relative many years ago lamenting that she couldn't buy a colour of knitting wool known as '****** Brown' and I couldn't quite figure out why she should be so upset about a name change when obviously the company producing the wool didn't want to alienate a potential customer base by using an offensive name) even if it meant they were not going to reach as many people with their product?
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