Reporting Pete Demetriou
LOS ANGELES (CBS) — Will the former site of the 1984 Olympics officially become Trojan territory?
KNX 1070′s Pete Demetriou reports there are hints that the University of Southern California may soon take over the scandal-plagued Los Angeles Memorial Coliseum.
Under the terms of a deal reported in the Los Angeles Times, the Coliseum Commission would sign a 42-year lease that would allow USC to pay $1 million leasing fee to the state.
The lease agreement would give USC full management rights of the Coliseum and Sports Arena complexes, which include naming rights and the authority to upgrade the facility for football and other sporting events.
USC junior Brian Rashana said he would support such a proposal after seeing the Coliseum hang in ownership limbo for months.
“I think we do have great people here at USC and leaders here that will take control of it and move it in the right direction,” said Rashana.
Los Angeles County Supervisor and Coliseum Commission member Don Knabe said the plan may be more of an economic necessity than anything else.
“We have no ability to raise additional revenue, obviously the state’s not going to put money into it, the county or the city, and so this is a great opportunity for all Angelenos,” said Knabe, who also noted that USC would benefit as well by opening up a new way to raise money for the university.
The Coliseum Commission — which reportedly developed the lease agreement with USC — may well release the full details of the plan at a future meeting.