The city of Charlotte sold the property and the building, along with a Maya Lin commission outside it,[4] was demolished via implosion on June 3, 2007.

The day after the dedication, the United States Olympic basketball team was scheduled to play an exhibition game at the Coliseum.

However, poorly received decisions made by Shinn, as well as anger over personal scandals involving him, caused fan support to dwindle, and by then the Coliseum was seen by many as outdated and no longer suitable to be the home of a major professional sports team.

One of the Coliseum's last functions before being shuttered was ironically to serve as a shelter for people fleeing New Orleans in the wake of Hurricane Katrina in the fall of 2005.

The Coliseum also played host to the 1989 Sun Belt men's basketball tournament, setting a record for attendance.

They moved back to their old home, Bojangles Coliseum (then known as Independence Arena) for the 1993–94 season, partly due to a desire for a more intimate atmosphere.

Additionally, the Coliseum was located on the opposite side of the county from UNC Charlotte's campus, and was thus inconvenient to most of its student body.

When the NBA returned to Charlotte in 2004 with the expansion Bobcats, they played their first season (2004–05) in the Coliseum[5] as what became the Spectrum Center was being built.

Additionally, for some years after the arena's demolition, signs on Billy Graham Parkway continued to direct drivers to the "Coliseum Area."