Complex sentence: 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, as even as early as 1980 the Coliseum was decried as a "White Elephant".
Split into simpler sentences: 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. Even as early as 1980 the Coliseum was decried as a "White Elephant".