Complex sentence: Replacing the aging Kooyong Stadium, construction on the arena began in 1985, and was completed in 1987 at a cost of AU $94 million, and it opened on 11 January 1988 for the 1988 Australian Open.
Split into simpler sentences: Replacing the aging Kooyong Stadium, construction on the arena began in 1985, and was completed in 1987 at a cost of AU $94 million. It opened on 11 January 1988 for the 1988 Australian Open.