L.A. Coliseum Commission Approves USC Lease Agreement
The Los Angeles Memorial Coliseum Commission approved a lease agreement today that gives USC control of day-to-day operations.
The board voted 8-1, according to City News Service, with only one opposing vote from Councilman Bernard Parks.
USC will control the scheduling of events and possible naming rights negotiations. The commission will continue to oversee the Coliseum and Sports Arena buildings. The lease also includes a provision for the temporary use of the Coliseum by an NFL team if necessary. USC and the Commission agree that the decision is important to improve and modernize the stadium and to move past recent scandals, according to the Los Angeles Times.
The Coliseum commission has been scrutinized for the alleged mishandling of millions of dollars that went missing, reports City News Service.
The Coliseum and the Los Angeles Sports Arena are publicly owned buildings managed by the commission, which includes state, county and city officials. The land is leased from the state, which expires in 2054. USC's lease has an initial term of 20 years, but can be renewed for up to 42 years.