Found May 15, 2012 on
College Football Section:
The Los Angeles Memorial Coliseum Commission voted to grant control of the stadium to USC for the next 42 years.
The board passed the vote 8-1 putting USC in charge of the day-to-day operations of the stadium and also the Sports Arena situated next to it. This lease is set at a minimum of 20 years but with renewal options could last until 2054….Again that’s 2054!!! In case you missed it.
The reason for the long contract option is that the land lease from the state of California is a 100-year agreement and was agreed upon back in the 1950′s. Ah the days of the 100 year contract. If only Cleveland could have drafted LeBron into such a deal.
With this agreement the commission will keep its position of overseeing both buildings but will relinquish the scheduling rights and naming rights negotiations to the university. This means that USC could potentially sell the naming rights to the highest bidder.
If they choose to go the route of Louisville, which currently holds the top two sp...
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