The Coliseum was officially closed on September 1, 2002, by Mayor John DeStefano Jr., and demolished by implosion on January 20, 2007.

The Coliseum held 11,497 people at full capacity, and occupied 4.5 acres (18,000 m2) of land next to the Knights of Columbus Building and faced the Oak Street Connector/Route 34 downtown spur.

The Coliseum was also known for hosting many concerts during its existence, notable performers included Grateful Dead, Rush, Elvis Presley, Frank Sinatra, Lynyrd Skynyrd, Bee Gees, Queen, Aerosmith, Black Sabbath, Jethro Tull, Pat Benatar, Judas Priest, Bon Jovi, KISS, Phish, and Guns N' Roses.

[3] Most notably, in 1986, the Coliseum served as the setting for Van Halen's multi-platinum concert film Live Without a Net.

It also was the home of the famous "Eruption" solo performed by Eddie Van Halen and his bandmates which took place on August 27, 1986.

Though an interesting solution, this design proved unpopular because of the quarter-mile helical ramps required to access the parking.

During the 1980s, the structure of the parking garages had deteriorated to the point where large canvas panels had to be attached to the outside to catch pieces of concrete that would occasionally drop off onto the sidewalk below.

Among the reasons for the Coliseum's demise was the construction or renovation (often with state money) in the 1990s of alternative comparably sized venues within the southern Connecticut market.

Many musical acts started booking the Oakdale Theatre in the city of Wallingford, Connecticut, after it was upgraded and expanded.

Even though the state gave $5.5 million to the arena for new paint, signage, and scoreboards, the Coliseum simply could not compete with newer facilities.