Complex sentence: Opened in 2002, Chesapeake Energy Arena was built without luxury accommodations, but designed to accommodate luxury "buildouts" should a professional sports franchise locate to the city.
Split into simpler sentences: Opened in 2002, Chesapeake Energy Arena was built without many of the luxury accommodations planned for it. The arena's design was meant toaccommodate such luxury "buildouts" should a professional sports franchise locate to the city.